ETHUSD rising wedge; expect breakout to the downside

9 Şub 2018

I'm still a very new analyst; I don't know how to project targets for wedge breakouts yet. I expect this wedge to break bearish in the next 2 to 4 hours and will reassess at that time. Keep an eye on the lower trend line and the 21EMA on the 15 minute which has been reliable support all morning.

11 Şub 2018

Not

Top trend line of wedge continued to be resistance with three tests after breakout from wedge before price action moved lower. I still don't know where the bottom is, but it's an interesting development. I will be watching the existing support/resistance lines (in green).