Tolberti

Ethereum ETHUSDT - Rising wedge + Elliott Wave

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BINANCE:ETHUSDT   Ethereum / TetherUS
- Bearish rising wedge is currently forming on 4h chart
- Impulse Elliott wave completed successfully - we are looking for a pullback
- Maybe the main horizontal level was a bull trap and the price will fall
- You can buy at 0.618 fib for a short term trade

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コメント: 0.618 fib rejection

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コメント

No bearish divergences?
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Tolberti TradingSurfers
@TradingSurfers, which time frame?
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That is not a rising wedge. Your resistance/topline makes no sense. It is cutting the top of the candles off just to fabricate the wedge. Looks more like a rounding bottom or at least a rising channel. Use a daily chart, much better for long periods such als this. Easier to recognize patterns.
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Tolberti Matthew1972
@Matthew1972, I connected the trend line from wave 1 to wave 3, I didn't cut anything. Now it looks like the wedge is breaking down.
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Matthew1972 Tolberti
You can draw any bias you want ;-))


PS, very much appreciate your work, dont get me wrong!!!!!
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Tolberti Matthew1972
@Matthew1972, Alright, its a valid channel. However, we have Elliott Wave Impulse completed. Clear 3 waves to the upside.
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Matthew1972 Tolberti
@Tolberti, Another way of looking at the ETHUSD chart. Go to the weekly. We just flipped resistance into support and now retested support.

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Tolberti Matthew1972
@Matthew1972, Yes, but we need to wait another 4 days for the candle to close.
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Matthew1972 Tolberti
@Tolberti, Together with the monthly close on especially Bitcoin. Exiting times. Cheers!
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