Ethereum - Broadening Wedge Patterns
Updated
Broadening Wedge Patterns - “Megaphones”
A Broadening Wedge is a range where the price is holding between two trend lines that are moving apart. The pattern is also named a “Megaphones” because of its shape.
These chart patterns are similar to triangles, wedges, flags and pennants.
Broadening Wedges can be either Bullish or Bearish depending on how they form within an existing trend. There are some clues in the pattern itself that suggest whether the market is likely to continue the same trend or reverse.
You can trade these chart patterns as range trades between the highs and lows of the support/resistance lines. They can of course also be traded as breakouts
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Targets> Featured area - gray box
BEARISH in the short term
ADVANCED Long term
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#ETH #ETHEREUM #ETHER #BUTERIN #VITALIK
A Broadening Wedge is a range where the price is holding between two trend lines that are moving apart. The pattern is also named a “Megaphones” because of its shape.
These chart patterns are similar to triangles, wedges, flags and pennants.
Broadening Wedges can be either Bullish or Bearish depending on how they form within an existing trend. There are some clues in the pattern itself that suggest whether the market is likely to continue the same trend or reverse.
You can trade these chart patterns as range trades between the highs and lows of the support/resistance lines. They can of course also be traded as breakouts
====================================
Targets> Featured area - gray box
BEARISH in the short term
ADVANCED Long term
====================================
#ETH #ETHEREUM #ETHER #BUTERIN #VITALIK
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