ETH/BTC descending wedge

29 May 2019

Descending wedge bullish pattern. Fits well with Bitcoin dominance chart.

5 Haz 2019

Not

It seems the descending wedge only provided a weak reaction on the breakout (which retraced back instantly). But I would say that a long position can still be considered if this forms a rounded bottom shape. (symmetrical candle layout so far)

IF this idea holds for the next few candles I will consider taking a position with the following targets:
Target 1: 0.0327 (previous high)
Target 2:

5 Haz 2019

Not

Target 2: Red zone.