ETH falling wedge

By luissjp

Updated

posible falling we and support coinciding with we broke the support and started the bull trend.

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forgot to mention it was support since the bottom too

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i will expect us to test the 200MA and probably fail to break it,

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200MA is been cross less see if the 4 hour candle hold and we keep going, 200MA was not a strong resitence las time it was crossed.

203 will be the resitence of the wedge if we get there

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looking to the left 180-195 is been a big resitence area on the past.

Trade closed: target reached

we did cross the 200MA after a good battle , know close to the wedge upper resistence, less see if we cross or we do drop again.

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we are testing 50MA in BTC so both could reverse.

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adjusting the resitence to the candle not the widge we could have broken already and we could be retesting the resitence, difficult to judge.

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atual resitence was previous support for 4 times in the last month.

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we temporaly broke trough resistence, but not back to check the support of the channel and the 200MA. if we reenter the channel we probably test the bottom of it, but normal will do to retest the previous resistence and bounce from it.

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tradingview.com/x/aH2ECfKI/, we remeter the falling wedge, if we dont stop at this support we probably will test the bottom support of the wedge

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posible inverse head and shoulder in ETH

continuation idea.

luissjp

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