Ethereum / TetherUSShort
Is it over?
Hi everyone,
Yesterday I analyzed BTCUSDT and talked about the reason that we are still bullish in the short and midterm. (link down below)
Today, we are going to be analyzing ETHUSDT, and the chart looks clear and beautiful. Right now we just broke above previous resistance where we took off some liquidity that was sitting above the previous high, and we are at a really important level of resistance of a wedge that we are inside of it.
We are in the narrower channel part of the wedge and the price is showing a loss of momentum and a rejection of that resistance. Even though on the H1 timeframe price is in a symmetrical triangle, which is a continuation pattern, I lean towards breaking to the downside. However a break to the upside is possible, and if does so, I will analyze tomorrow where it will go.
Btw, DOGE is looking good if it closes above the resistance. Maybe take a look if you get to read this post right away.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
Yesterday I analyzed BTCUSDT and talked about the reason that we are still bullish in the short and midterm. (link down below)
Today, we are going to be analyzing ETHUSDT, and the chart looks clear and beautiful. Right now we just broke above previous resistance where we took off some liquidity that was sitting above the previous high, and we are at a really important level of resistance of a wedge that we are inside of it.
We are in the narrower channel part of the wedge and the price is showing a loss of momentum and a rejection of that resistance. Even though on the H1 timeframe price is in a symmetrical triangle, which is a continuation pattern, I lean towards breaking to the downside. However a break to the upside is possible, and if does so, I will analyze tomorrow where it will go.
Btw, DOGE is looking good if it closes above the resistance. Maybe take a look if you get to read this post right away.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
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