EthereumUpdated Ethereum Rally is FAKE NEWS!
New resistance at the previous support of the descending wedge as I highlighted here https://www.tradingview.com/chart/ETHUSD/sPNINaOb-Ethereum-Trading-Strategy-Still-More-Downside-to-Come/
Broken uptrend on the 15 minute chart, looking for a retest of 1132/ETH low or a higher low before buying this dip.
This is just one possible outcome, but given longer term bearish trend, I see it as most likely. Risk reward from $152.50 is to $132 downside $164 upside (new resistance). or approx. 2-1 short.
If we start to rally from here I would be a buyer above 164/ETH.
Broken uptrend on the 15 minute chart, looking for a retest of 1132/ETH low or a higher low before buying this dip.
This is just one possible outcome, but given longer term bearish trend, I see it as most likely. Risk reward from $152.50 is to $132 downside $164 upside (new resistance). or approx. 2-1 short.
If we start to rally from here I would be a buyer above 164/ETH.
Note
High lower, looking at the resistance trend line here, buying a breakoutNote
No breakout, forming a triangle pattern, draw line from $132 to $142. Breakout pattern one way or the other.
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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.