ETH Ethereum Possible bullish wedge?
The previous few analysis on ETH worked out very nice and the double bottom including the inverse H&S worked out very good as well. We can see good volume, we can see very strong movement up as well. This suggest it's far from over. As long as we stay above the green support zone, we should be seeing higher prices the coming weeks.
On the right we can see a bullish wedge in the making, volume picture is confirming it as well, so at this point there is no reason to doubt it (except for the weaker Bitcoin' movement). Unless ETH' buyers have something big in mind (big V shape low), it is more likely to think, that even if the bullish wedge plays out, we will see a big bull flag form above the green support zone. Creating a solid foundation for the next rally up. What we can see on the left.
For now, this bullish wedge is very important, it should not fail!
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Previous analysis:
On the right we can see a bullish wedge in the making, volume picture is confirming it as well, so at this point there is no reason to doubt it (except for the weaker Bitcoin' movement). Unless ETH' buyers have something big in mind (big V shape low), it is more likely to think, that even if the bullish wedge plays out, we will see a big bull flag form above the green support zone. Creating a solid foundation for the next rally up. What we can see on the left.
For now, this bullish wedge is very important, it should not fail!
Please don't forget to like if you appreciate this :)
Previous analysis:
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