weslad
Long

ETHEREUM target a test on 1000usd

BINANCE:ETHUSDT   Ethereum / TetherUS
Hi friend,

Ethereum showcase a pattern identified on 3days chart know as descending broadening wedge , this wedge formed immediately after the previous achieved peak.

Below you can find basic principle of the pattern:
This type of pattern appears during the correction in a bullish movement, it is a bullish continuation pattern. Resumption of the bullish movement after correction.
The break in the resistance line definitively validates the pattern.( Resistance shown in yellow and its break)
The price objective is given by plotting the wedge’s maximum height onto the breaking point
NB: pullbacks are harmful to the pattern’s performance.( No pull back yet which making the trend stronger)

Statistics of the descending broadening wedge after a bullish movement

- In 79% of cases, the exit is bullish .
- In 23% of cases, a descending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the resistance line is broken.
- In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line.

Remember, this is not 60minutes chart so do not expect the move to happen immediately but bear it in mind where the Ethereum is heading to over the year.

Be on the watch out for my updates on where to join and what to do as market develops.


Kindly go through the chart and do leave your comments about the expressed view.

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Thank you.

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Comments

I will cry if it hits 1k, i sold all too early :((
Thank you bro!
+3 Reply
aminnima_908 Sunny_Times
@Sunny_Times, buy again if you know growth more . i have eth and hold for more than this price
Reply
weslad Sunny_Times
@Sunny_Times, surely there will be great opportunity to join eth again, I do not expect this move to happen within days.
+1 Reply
It is great to have your ideas here in TV. Thank you indeed.
+1 Reply
weslad Mdhafezi
@Mdhafezi, Thank you for your comment
Reply
weslad aminnima_908
@aminnima_908, Nice work man, this look simple and very detailed.
+1 Reply
@weslad, thank you so much
Reply
Well done Wes always bringing be best
+1 Reply
I don't know anything yet please help me hear
Reply
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