ETH Fake Falling Wedge
If we get a Monthly close around this level, it will look awful (Shooting Star with a HUGE wick)
A lot will short the Monthly close.
ETH can take liquidity around 3469 and drop (Weekly Bear liq)
or go higher to 3925 (Max pain for Bears)
Bulls would be in profit but the Falling Wedge would encourage them to hold their positions, only for them to get liquidated when the market actually crashes under 70k.
A lot will short the Monthly close.
ETH can take liquidity around 3469 and drop (Weekly Bear liq)
or go higher to 3925 (Max pain for Bears)
Bulls would be in profit but the Falling Wedge would encourage them to hold their positions, only for them to get liquidated when the market actually crashes under 70k.
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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.