More sideways, nothing bullish so far

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
We created a pennant within the big triangle. Looks like the price will play around the pennant for a couple of days and after that could break it down looking to touch the base of the big triangle. This big triangle actually look more like a rising wedge than anything else, and you´ll know what happens when a rising wedge is formed after a big long term downtrend. Meanwhile ADX is loosing strength in the main TF´s and is forming bearish divergences everywhere.

But for now we have to pay attention to breakdown of the pennant and after that to the base of the wedge , since we don´t want to be trapped by bulls and so far at least the first 15-20 days of April looks pretty well for a rally.

As always I´ll keep you guys updated, thanks for your support :)


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