CryptoSampha

ETHGBP - Rising Wedge - Not Looking Good

Short
COINBASE:ETHGBP   Ethereum / British Pound
Rising wedge clearly formed on ETHGBP pairing, breakdown out of the wedge with a target of 100-95GBP will take it nicely to the 0.236 FIB which is also support from December plus R turned S back from late 2018.
RSI also showing Double Top although middle of the road, not yet overbought

The state of the oil industry cannot be excluded as an external factor that could have ramifications across the crypto world as bag holders start to cash in

Comments

When the S&P 500 hits 3100 BTC will dump on an unprecedented level dragging ETH all the way down. It’s time to collect your nearest parachute and jump and wait at the bottom.
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lvckyy23 amazonmab22
@amazonmab22 why will that happen?
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Hey sampla,

Curious if you made this trade ??
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CryptoSampha antgarrick
@antgarrick, I did but got stopped out just above the 0.786 fib line. Looked like a rising wedge, but Bitcoin seems to do what it wants and drags everything else up and down with it :-D
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