There is a clear descending wedge forming. And it happens to be forming at the bottom of a down trend.. In the history of eth I have only ever seen descending wedges at the bottoms of down-trends act as reversals.. and have only seen them act as continuations when formed on uptrends.. there is obviously a bit more room for shorting into the tip of the wedge , but in all likelihood based on the technicals it should break out of it upward whenever it does.. in the event that eth remains consistent with its patterns, which it should, then upon the breakout from the wedge the 1st target is 133. it could bounce from there and go back down, or it could continue through and if it does then the following target is 148 and possibly beyond
Comment:
here's a past example from earlier this year of a descending wedge acting as a sizeable reversal.. there are plenty more of these on smaller timeframes, but for the sake of example there's no need to be redundant
