ETH is beyond bullish

27 Jan

In the morning I saw the red candles and thought ok we broke out of the wedge, that means a longer term consollidation before the bullish breakout.

But now the daily candle almost close and you see the buyers pushed the price back into the wedge pattern.

So from a technical standpoint the wedge is still intact and that is super super bullish.

The reason why that is a super bullish sign is that today the bears had a chance to break the wedge structure but there was not enough selling pressure to do that.

A wedge pattern falling down like this almost always breakout to the upside.

The wedge pattern is the right shoulder of a bigger inverse head and shoulders pattern, if you zoom out you can see it on the daily.

So price is respecting the chart very good sign.

Off course tomorrow they can try to drop the price again lower out of the wedge but I doubt it because you see the price is already bought up again.

So fundamentally the only thing that we need is wednesday a positive FOMC meeting. And we go moon.

I cannot see anything that is holding us back now.

30 Jan

Dagangan aktif

we are still in the Wedge so I'm super bullish