ETH is about to get rekt. rising wedge is usually a bearish pattern though it can break to the upside if support is too strong and it can act as reversal pattern.
Ethereum, making some moves and likely to show a bottoming pattern in place. Watch the levels for a possible dip (last chance to get on the long side) for a move to $370.
Longer term descending triangle target reached, followed by a bounce and a higher low while forming an ascending triangle pattern at the moment. 370 should be an interesting level to watch. A...
#1 Key Highlights
* Support around $100+ level held strongly.\u2028
* 200H-MA(moving average) broken with buying volume.\u2028
* Ethereum(ETH/USD) price surged 20%+.\u2028
* $120+ resistance broken and retested.\u2028
#2 Chart Analysis
Ethereum trading $122+(Bitfinex) and showing signs of strong upward momentum.
Looking at the ethereum trends on Hourly(4H)...
Dear Friends ,
15 % Trade Opportunity - Coming up soon ? on ETHUSD pair
Price is in Descending triangle ( From 14 days now )
A squeeze signals a period of low volatility
and is considered by traders to be a potential sign of future increased volatility and
Possible trading opportunities. ...
Question Is How to trade This ?
Ans. - Keep Eye on High time...
There is a lot of zigzags and choppy price action in crypto for the last couple of weeks. In general it says that we are in corrective territory. The main question is were are we going first, base on 4H chart. This is my first public post, so please be mercy to me in my comment section.
Have a profitable play, cheers.
E1
The Elliott Wave Theory is interpreted as follows: Five waves move in the direction of the main trend, followed by three waves in a correction (totaling a 5-3 move). This 5-3 move then becomes two subdivisions of the next higher wave move. The underlying 5-3 pattern remains constant, though the time span of each wave may vary
ETH/USD(Bitfinex)
Ethereum has seen a price jump due to the hard fork fever but couldn't manage to sustain momentum and dipped 25%+ recently after the hard fork got over.
Bullish Case:
After the recent drop it tested the support level of $116-$117 and jumped(15%+) to $131 price level recently.
If it manages to hold this level $116+ and breaks $151+ price level...
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