Looks like a "Bear Flag," but the channel is down-trending so maybe not as obvious. Measured move on the channel up and down is shown.
Leave your thoughts...
Dislike for down. Like for UP!
Confluence of factors led me to short all these tops, but seem ETH is putting up a fight and forming a symmetrical triangle. Its impressive. No one will deny the strength of this asset. Question is does it have the stregnth to bust through weekly resistance and a long-term down trend (and I mean realllllllly long term). Most would say no, and i tens to agree....
Where to from here, I have a feeling we see one more down out of this symmetrical triangle we are in.
What do you think?
Comment and let me know.
Dislike this if you think fib channels and S/R are too much, otherwise like it :)
Way oversold on all timeframes.
Falling Wedge, typically bullish breakouts.
Measured Move, indicates move towards area of former support, turned resistance.
Also to next value area suggested by VPVR. Ton of confluence.
I like this play despite the several month downtrend....
What say you? Not even close to financial advice.