ETH chart shows formed rising wedge pattern as well as bearish divergence.
Rising wedge - While price is still rising, and we see higher high and higher lows, price gap between highs and lows is closing fast and volume amount has been decreasing over couple weeks indicating we are approaching decision point. Price has hit 180 EUR and is currently facing...
Lets take a look at ETH from longer term weekly perspective . In previous bull cycle ETH consolidated in triangle pattern and weekly MA21 served as support line. When ETH started downfall, MA21 acted as main resistance zone.
Now we are in similar situation. Price broke MA21 in a bull run and felt back to it again acting as support now. Will the price go up or...
Bitcon graph shows finishing pennant pattern. Volume is decreasing, RSI is moving around 50 points and DMI shows equal struggle of bulls and bears. We should watch the price action closely to catch the movement. Will it be bullish or bearish? Who knows, but it will be decided in next couple of days.
ETC has broken the 10.5 resistance line and moving towards next resistance at 13.5 EUR. Price is high above the cloud and both RSI and DMI show strong upward trend. This is good time to buy. If it breaks 13.5 EUR, next one is at 16.5 EUR.
Price has moved above the cloud indicating upward movement. DMI and RSI both support upward movement. If Tenkan-sen line crosses the cloud and ADX line of DMI moves above 20 points it will further confirm upward movement and price should continue up to 49 EUR level - last resistance zone. If it breaks 49 and 50 level, next resistance level is at 61 EUR.
