Ethereum / TetherUSShort
ETHUSDT - Bearish wedge analysis
Updated
Comment :
1) ETH breakdown below the bearish wedge on yesterday, with slight higher volume than the day before. The volume is decreasing in forming the wedge, showing that the investors consolidating their energy before they start pushing the price action lower towards the breakout.
Need to pay attention to whether it will pull the prices fall on increasing volume, then the bearish wedge will be confirmed, which shows that it may usher in a falling wave.
2) TrendX+ - candlestick moving beneath the red mid-term trendline, indicating a mid-term downtrend on-the-go.
3) DDX+ - mid-term uptrend, but still below zero-axis. Lookout if candlestick broke below mid-term cross line.
4) MCDX+ - weak, retailer bar controling more than 80%.
Support & Resistance :
S : 831 +/-
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
1) ETH breakdown below the bearish wedge on yesterday, with slight higher volume than the day before. The volume is decreasing in forming the wedge, showing that the investors consolidating their energy before they start pushing the price action lower towards the breakout.
Need to pay attention to whether it will pull the prices fall on increasing volume, then the bearish wedge will be confirmed, which shows that it may usher in a falling wave.
2) TrendX+ - candlestick moving beneath the red mid-term trendline, indicating a mid-term downtrend on-the-go.
3) DDX+ - mid-term uptrend, but still below zero-axis. Lookout if candlestick broke below mid-term cross line.
4) MCDX+ - weak, retailer bar controling more than 80%.
Support & Resistance :
S : 831 +/-
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
Trade closed: stop reached
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.