ETHUSD MAY FORM THE BEARISH WEDGE. THE PRICE IS GETTING READY TO DROP.
ETHUSD has been moving bullish since July 8. However since July 21 the price started to form the bearish wedge with bearish divergence on RSI on 4-h timeframe.
A bearish wedge is a bearish reversal pattern in an uptrend, where the price forms higher highs and higher lows within converging upward trendlines, signaling weakening bullish momentum and a potential downward reversal. To trade, identify the wedge with declining volume and confirm with RSI or divergence. Sell or short on a breakdown below the lower trendline with a volume spike. Set a stop-loss above the recent high or upper trendline. Target the wedge’s height projected downward from the breakdown or the next support level with a 1:2 risk-reward ratio.
We expect that the price will establish another bullish momentum and the price will go towards upper border of the wedge, slightly below the 4,100.00 resistance level and will decline towards 3,500.00 support level afterwards.
ETHUSD has been moving bullish since July 8. However since July 21 the price started to form the bearish wedge with bearish divergence on RSI on 4-h timeframe.
A bearish wedge is a bearish reversal pattern in an uptrend, where the price forms higher highs and higher lows within converging upward trendlines, signaling weakening bullish momentum and a potential downward reversal. To trade, identify the wedge with declining volume and confirm with RSI or divergence. Sell or short on a breakdown below the lower trendline with a volume spike. Set a stop-loss above the recent high or upper trendline. Target the wedge’s height projected downward from the breakdown or the next support level with a 1:2 risk-reward ratio.
We expect that the price will establish another bullish momentum and the price will go towards upper border of the wedge, slightly below the 4,100.00 resistance level and will decline towards 3,500.00 support level afterwards.
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Telegram Channel: t.me/forextradersliveofficial
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Join me, I'll guide you to PROFITABLE TRADING💵!
Telegram Channel: t.me/forextradersliveofficial
Telegram Channel: t.me/forextradersliveofficial
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.