Adam/Eve Reversal Formation at Falling Wedge Breakout

Jan 29, 2023

YFI has both broken out of its falling wedge, and formed an Adam & Eve reversal pattern at the end of that breakout, neckline already has a breakout.

Before heading to targets for either (targets on the chart):

- I'm expecting it to push just above the 200 day EMA, potentially near the halfway point to its falling wedge TP 1, or around 8800-9k

It will likely consolidate around the 200 EMA for a bit before moving on to higher targets, or failing to get above it and re-testing either top of wedge break or Adam/Eve neckline again.

Adam/Eve pattern could also be considered a cup & handle - targets would be the same in either case.

SUMMARY

- if we can eventually get and hold above the 200 EMA, short-term targets are the Adam/Eve TP 1 and 2, and longer-term targets are the falling wedge TP 1 and 2.
- meanwhile, look for a move above the 200 EMA to 8800-9k, followed by consolidation around the 200 EMA.

Feb 22, 2023

Note

Update - Halfway to Adam/Eve TP 1, holding above 200 EMA so far:

Feb 23, 2023

Note

Adam / Eve TP 1 reached, looking at a lot of other alts, they've reached short-term TP 1 and approx halfway to TP 2 after a breakout above 200 day EMA, and then come down for a re-test or near re-test of that 200 EMA:

Feb 24, 2023

Note

Stopped just shy of TP 2 and is sitting around the halfway point to TP 2. This is where Filecoin began correcting and consolidating around its TP 1 and/or the 200 EMA:

Feb 24, 2023

Note

Note: it also stopped just above and is now near the halfway to the larger pattern / falling wedge's target TP 1

Feb 24, 2023

Note

Back down around TP 1, corrected from halfway to TP 2 as suggested:

Mar 1, 2023

Note

Adam/Eve TP 2 reached:



Now let's see if we can hit TP 1 on the falling wedge, which is presently in line with the 200 day SMMA (blue line)