The lines on this chart show the lower highs and higher lows of the tightening range forming on ETH. We will see a break within a couple hours and it will dictate momentum for the rest of the day. Watching BTC as a potential leader for this move, and for correlation clues as always. ETH was by far the most beat up name on the dump yesterday with longer term RSI levels much more beat up than the other two. ETH bulls are trying to form the daily higher low, one step ahead of the others as far as daily consolidation goes.
Mind checking out my idea? Price was rejected from a major 10 month old trend line. Price never retested the major downtrend line that continued for 2 months.
Massive rising wedge forming. Bullish patterns inside bearish patterns loose. If all goes as it's supposed to price usually retraces the price of the first formation of the wedge which ironically falls into the re-test of the downtrend line breakout.
Massive rising wedge forming. Bullish patterns inside bearish patterns loose. If all goes as it's supposed to price usually retraces the price of the first formation of the wedge which ironically falls into the re-test of the downtrend line breakout.