Ethereum is in a broadening wedge pattern.

30 ม.ค. 2021

Formation of an ascending broadening wedge after a trough

centralcharts.com/medias/guidesdesc/fiches/images/resized/ascending_broadening_wedge_after_bearish_movement.png

This type of pattern appears during the correction in a bearish movement, it is a bearish continuation pattern. Resumption of the bearish movement after correction.
The break in the support line definitively validates the pattern.
The price objective is given by plotting the wedge’s maximum height onto the breaking point
NB: pullbacks are harmful to the pattern’s performance.

Statistics of the ascending broadening wedge after a trough

- In 79% of cases, the exit is bearish.
- In 23% of cases, an ascending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the support line is broken.
- In 40% of cases, the price makes a pullback in resistance on the ascending broadening wedge’s support line.

From centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/514-ascending-broadening-wedge

30 ม.ค. 2021

บันทึก

This could indicate the start of a short term Bitcoin dominance trend until the price reaches the bottom of the ascending wedge and makes a decision.

If the price continues to drop through the bottom of the wedge, it strongly suggests the Bitcoin dominance will continue until it reverses.

30 ม.ค. 2021

บันทึก