The rising wedge is taking longer to play out than I would have hought, maybe because of BTC that is showing more strenght. ETH seems to be holding the yellow trendline and is going sideways for now. Howerver, the Daily as well as the 4H trends are still down. Plus, a head and shoulder pattern has formed on the lower timeframes. Conclusion, still bearish .
Ethereum just broke and retested perfectly a rising wedge on the lower timeframes. Continuation of the short term downtrend is expected.
Ethereum just broke and retested perfectly a rising wedge on the lower timeframes. Continuation of the short term downtrend is expected.