🔥 Ethereum Wedge Reversal Trade

7 במרץ 2021

Just like Bitcoin, Ethereum has seen a strong last couple of days. In this time, ETH has formed a nice wedge for us to trade. Since Ethereum is currently residing at the top of the wedge, this trade expects ETH to fall back to the wedge support. I've place the entry at 1570 in order to catch the fall and trade the reversal.

Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.

Happy trading!