3HR TF: ETH in possible bearish scenario -SHORT ENTRY
Updated
As you can see, we have a Rising Wedge in ETH which means a possible reversal pattern and a bearish signal
A rising wedge is generally a bearish signal as it indicates a possible reversal during an up-trend. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
We have also a decrease in the volume. Make sure there is an increase in the volume during breakout so this is a valid breakout and not a fake one once you enter your trade in the breakout.
Another bearish signal is the CCI/RSI Bearish divergence.
Our possible ENTRY Point will be the breakout in the support area.. Then we can check the size of the beginning of the wedge and calculate the same after breakout, that will be our target price
Please DYOR and make this chart only a guide . Try to make your own Technical Analysis
A rising wedge is generally a bearish signal as it indicates a possible reversal during an up-trend. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line.
We have also a decrease in the volume. Make sure there is an increase in the volume during breakout so this is a valid breakout and not a fake one once you enter your trade in the breakout.
Another bearish signal is the CCI/RSI Bearish divergence.
Our possible ENTRY Point will be the breakout in the support area.. Then we can check the size of the beginning of the wedge and calculate the same after breakout, that will be our target price
Please DYOR and make this chart only a guide . Try to make your own Technical Analysis
Note
This chart maybe invalid now if this break into resistance and a price buildup is showing. BTC also rallies up just few hours ago while doing this comment
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