Two Timeframes and Two Conflicting Ideas for Ethereum
There are two conflicting ideas for Ether right now.
The 1 Hr candles (or if you count the wicks on the 4 Hr candles) shows a rising wedge pattern.
This rising wedge is much clearer on BTC which is what leads me to believe it is more likely.
However the 4 Hr candles look like a nice ascending triangle pattern which, if it breaks to the upside should be very bullish .
Wait for the breakout on either side before deciding to buy, HODL, or sell.
The 1 Hr candles (or if you count the wicks on the 4 Hr candles) shows a rising wedge pattern.
This rising wedge is much clearer on BTC which is what leads me to believe it is more likely.
However the 4 Hr candles look like a nice ascending triangle pattern which, if it breaks to the upside should be very bullish .
Wait for the breakout on either side before deciding to buy, HODL, or sell.
Comment:
Trendlines updated. ETH matches up with BTC's rising wedge now, so I maintain a bearish bias
