Ethereum - important price action is incoming
Market price moves within ascending wedge since December 2018. If we follow textbook movement this wedge will break down after third resistance test and at least 85 $ will be retested because there was big down movement before ascending wedge formation started, textbook target would be 20 $, in my opinion is the probability for this movement very low but I just write down what could happen :)
-RSI is in down movement and near resistance line, expect further down movement to 147 $
-Volume continues to go down slowly which implements further up movement
-Open long if two daily candle close above wedge up trend line (price should be supported by 200 day and 100 day moving average at 145 $)
-Open short if two daily candles closed under wedge up trend line
In my opinion we will see another up wave to 200 $ before next big drop to 120 $
-RSI is in down movement and near resistance line, expect further down movement to 147 $
-Volume continues to go down slowly which implements further up movement
-Open long if two daily candle close above wedge up trend line (price should be supported by 200 day and 100 day moving average at 145 $)
-Open short if two daily candles closed under wedge up trend line
In my opinion we will see another up wave to 200 $ before next big drop to 120 $
Trade closed: target reached:
breakout trade successful
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
