ðĨ WARNING: Ethereum 6-Year Rising Wedge Break Out Confirmed
As of last week, Ethereum has broken out of a rising wedge pattern which has been formed at the start of 2017, making it the longest pattern that exists on the ETH chart in recent memory.
Seeing that rising wedges are classically bearish reversal patterns, the risk is definitely to the downside. There's a risk that ETH will see more bearish pressure over the next few months.
If BTC were to make a double bottom like last cycle, I assume that ETH will make a lower-low in the yellow area.
Personally, I'm keeping some cash on hand for this very bearish scenario. Will you? Share your thoughts in the comments.
Seeing that rising wedges are classically bearish reversal patterns, the risk is definitely to the downside. There's a risk that ETH will see more bearish pressure over the next few months.
If BTC were to make a double bottom like last cycle, I assume that ETH will make a lower-low in the yellow area.
Personally, I'm keeping some cash on hand for this very bearish scenario. Will you? Share your thoughts in the comments.
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