Here is an up-trend channel for Ethereum in relation to Bitcoin. As you can see, Ethereum is being pushed down to test the lower support of the channel. It's possible that the support would be broken momentarily, to flush out the bears - however anything can happen considering the whales therefore if you will trade this chart, set your shorts...
Here's my opinion for the following hours, would appreciate any feedback as I'm a beginner in TA.
A Rising wedge has formed and breakout to the downside confirmed. We can also see that the price has bounced from the lower channel of the previous bull run, indicating that we are going down.
I'm a beginner in TA and would appreciate all relevant feedback.
Using the LOG format, it seems that the Bear cycle is not over, however a Fibonacci alternative also persists.
As you can see, we are soon at the 0.786 Fibonacci Retracement , and there is a chance that we will bounce from here. However looking at the other indicators, there is also a...