ETHBTC - Broadening Wedge with Symmetrical Triangle
Disclaimer: I am not a pro - still very new at this and learning. Not investment advice, just my ideas at the moment - interested in feedback.
On the 1H, I am seeing a broadening wedge. It has the characteristic megaphone pattern (top slope greater than the bottom slope), with volume rising when the price is moving up, and volume falling when the price is moving down, with an overall increase in volume.
I believe this to be a bearish signal, with prices falling to the 0.344 level and then below (grey dotted line).
There is a symmetrical triangle forming on the 15 minute - if a break up happens here, it could result in a short gain up to the 0.355 level, before dropping to the bottom of the broadening wedge and beyond.
On the 1H, I am seeing a broadening wedge. It has the characteristic megaphone pattern (top slope greater than the bottom slope), with volume rising when the price is moving up, and volume falling when the price is moving down, with an overall increase in volume.
I believe this to be a bearish signal, with prices falling to the 0.344 level and then below (grey dotted line).
There is a symmetrical triangle forming on the 15 minute - if a break up happens here, it could result in a short gain up to the 0.355 level, before dropping to the bottom of the broadening wedge and beyond.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.