Ethereum rising wedge

On the above daily chart price action prints within a rising wedge pattern since first testing 3000 dollars.

The rising wedge pattern is a trend continuation pattern. In 82% of cases it is observed the exit is bearish.

The wedge pattern is also a reliable predictor of price action forecasts. Take a measured move from the failed support to the bottom of the wedge support. This move will be repeated from the exit point once confirmed resulting in a further 22% correction to 2800.

Ww

Trade aktif:

Pack it up pack it in, let the dumping begin.

Trade aktif:

Dumpty dump... wait until 2800 at least.
If support fails to confirm, then 2300.

Trading ditutup: target tercapai:

Target was reached on April 13th. It will re-test.

Daily chart

Trading ditutup: target tercapai:

re-test complete.

Komentar:

A number of messages alone the lines of, "Are you still bearish on Ethereum?"

It is the wrong question. All trades taken by myself are a measure of risk and reward, not belief or fundamentals. At this moment the risk of downside remains greater than the probability of upside. Sure we can see swings on the daily price action of several hundred dollars. However that hold little interest, we're not in this game for the little changes in price action like gold traders. We're here for meaningful gains, and that is not on Ethereum at this time.

10 day