It seems that BTC follows a repetitive pattern and after every major breakout it follows same or similar trend, just on a smaller scale. Are we going to break through 8.5k - 8.8k or will we go back down to 6k ?
Hello,
This is my idea of what may happen to ETH short term.
At the moment the falling wedge pattern is building which is a bullish indicator but it still requires confirmation and we will only know for sure when the trend picks up and breaks through the green triangle. On the other hand if it breaks downwards then we may be heading for descending orange...
Difficult to tell at the moment if we're having a pennant or wedge forming. Either way it looks like we may have another rally with two resistance lines and then depending on whether the resistance is crossed or not, reversal.
