A symmetrical triangle followed by a descending broadening wedge
now we are presented with a rising wedge which usually results in a downward outcome (red bars pattern)
The red bars pattern hits the downtrend and 1.618 at the same time, providing a huge support
This is the optimal entry point
Yellow zones are just areas of importance (rejection areas, fib level touches)
Idea for people trading lower timeframes
I am long Ethereum
now we are presented with a rising wedge which usually results in a downward outcome (red bars pattern)
The red bars pattern hits the downtrend and 1.618 at the same time, providing a huge support
This is the optimal entry point
Yellow zones are just areas of importance (rejection areas, fib level touches)
Idea for people trading lower timeframes
I am long Ethereum
Yorum:
The breakdown assumes the Rising Wedge plays out bearishly, as rising wedges tend to