ETHUSDT | Descending Broadening Wedge
Updated
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This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
At the moment Ethereum (ETHUSDT) seems to be forming a consolidation after a fairly deep decline in the previous movement. This consolidation forms a Descending Broadening Wedge pattern which is accompanied by multiple bullish divergences on the stochastic indicator (5,3,3) which has the potential to increase the price.
Confirmation of the occurrence of this pattern is when the price is able to penetrate the upper trend line, with the target of strengthening the price to the level of 3387.xx which is the ideal area of the target of strengthening in this pattern.
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Best regards, riandwip686
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
At the moment Ethereum (ETHUSDT) seems to be forming a consolidation after a fairly deep decline in the previous movement. This consolidation forms a Descending Broadening Wedge pattern which is accompanied by multiple bullish divergences on the stochastic indicator (5,3,3) which has the potential to increase the price.
Confirmation of the occurrence of this pattern is when the price is able to penetrate the upper trend line, with the target of strengthening the price to the level of 3387.xx which is the ideal area of the target of strengthening in this pattern.
Follow me for next update
___________
Best regards, riandwip686
Note
The price has broken the upper trend line, and the Descending Broadening Wedge pattern is valid.Note
Check my new publication about Trading Strategy of Ethereum
Note
The target of this pattern has been reached, follow me for next update.
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