ryanc49

ETHUSD Update 15/10/2021

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Update from yesterdays analysis, ETH played out exactly as predicted today and my trend lines are spot on so far. we have seen a third rejection to break back into the rising wedge , we pumped late tonight due to the ETF has been approved bringing some bullish momentum. this is normally the perfect time to sell because so many are buying.

currently I am looking for ETH to hold my thick green line here at 3837, it is finding good support here but I think a test to at least 3800 is necessary to continue bullish momentum (red line).

We are actually in a rising wedge currently and we are also trying to break into a larger rising wedge . it is going to take massive bullish pressure to break out of both of these and they're is so much resistance along the way. if we break the 3800 line then I see us retesting the previous swing high at the 2 marked levels below (3659, 3610).

things to look for over the weekend:
- break into large rising wedge and retest.
- hold 3837 level to remain extremely bullish
- test of the 3800 support line to continue uptrend
- break below the 3800 and smaller rising wedge plays out (3610,3659)