New resistance at the previous support of the descending wedge as I highlighted here
Broken uptrend on the 15 minute chart, looking for a retest of $132/ETH low or a higher low before buying this dip.
This is just one possible outcome, but given longer term bearish trend, I see it as most likely. Risk reward from $152.50 is to $132 downside $164 upside (new resistance). or approx. 2-1 short.
If we start to rally from here I would be a buyer above $164/ETH.
Broken uptrend on the 15 minute chart, looking for a retest of $132/ETH low or a higher low before buying this dip.
This is just one possible outcome, but given longer term bearish trend, I see it as most likely. Risk reward from $152.50 is to $132 downside $164 upside (new resistance). or approx. 2-1 short.
If we start to rally from here I would be a buyer above $164/ETH.
Comment:
High lower, looking at the resistance trend line here, buying a breakout
Comment:
No breakout, forming a triangle pattern, draw line from $132 to $142. Breakout pattern one way or the other.