Hey guys,
As I can see right now, ETH doing pretty good up moves since the march crash (well as BTC). If we take a look at LTF, we formed a possible broadening rising wedge, which can lead us way higher to 300-350 and the breakout even higher. However, right now inside the broadening wedge, we formed a possible rising wedge, which can lead us to retest of support.
So these are the key areas to look into, if rising wedge works out, we should see a down move to area around 230-235 to test the support there, and also the possibility to stay inside bigger broadening wedge.
Right now, the fat orange line, is main downtrend line since 2019 June, if we fail to cross it and keep the price above it, we should see a price correction to mentioned support area, or even around 210-220 before continuation of our uptrend. On the other hand, we can break that line and continue moving inside our broadening wedge.
Stay tuned, and trade safely with risk management.
_____
Not a financial advice.
As I can see right now, ETH doing pretty good up moves since the march crash (well as BTC). If we take a look at LTF, we formed a possible broadening rising wedge, which can lead us way higher to 300-350 and the breakout even higher. However, right now inside the broadening wedge, we formed a possible rising wedge, which can lead us to retest of support.
So these are the key areas to look into, if rising wedge works out, we should see a down move to area around 230-235 to test the support there, and also the possibility to stay inside bigger broadening wedge.
Right now, the fat orange line, is main downtrend line since 2019 June, if we fail to cross it and keep the price above it, we should see a price correction to mentioned support area, or even around 210-220 before continuation of our uptrend. On the other hand, we can break that line and continue moving inside our broadening wedge.
Stay tuned, and trade safely with risk management.
_____
Not a financial advice.
Would be good to see that it holds here and not make instant decisions.