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dymomite2
Sep 24, 2021 8:28 PM

ETH doesn't look too good..  

Ethereum / U.S. dollarBitstamp

Description

There is a massive ascending wedge forming on the weekly timeframe, which is an overall bearish pattern. Not to mention the double top that just recently formed. Also, there seems to be a bearish Exaggerated Divergence, which happens when the oscillator makes lower highs and the price creates equals highs.

Whenever price touches a support line or resistance line, it gets weaker. I noticed the price, relatively, is frequently testing the bottom support line of the ascending wedge.

Based on the ascending wedge, the divergence, and the extremely bearish double top, I believe we will head downwards for some time, consolidating in the labeled supports for some time before continuing to the upside.
Comments
ELLOFX
I’m predicting this as well but to around $300 in mid next year
ELLOFX
Very great 👍
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