Rising Wedge indicating a possible reversal on the 4H

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The ETH 4H is forming a rising wedge with bearish volume divergence which is confirmed by a bearish TK cross. In order for this rising wedge pattern to remain valid price should remain under the 50% Fib retracement. At the time of writing, the price is sitting bang on the 50% level.

One must also bear in mind that the BTC chart is in a somewhat more bullish setup, which may impact the way ETH plays out due to the strong correlation between the two.

٢ يوليو ٢٠١٩

أغلقت الصفقة: تم الوصول للهدف

Interim target reached. Will keep an eye on the price action to see if it'll take another leg down to the $264 region.