ETC wedge toward Highs at 17.8

Hey guys, ETC is building this wedge toward the highs at 17.8 -we actually had a wick at 17.5 already. => A consolidation at this stage would be pretty normal.

While a wedge is mostly bearish, in this case it is quite remarkable that ETC manages to stay at the upper trendline of that wedge: If you were to align the wedge to a smoother move, it would equal an ascending triangle. => I will be talking about this in today's episode of the 'Crypto Chart Analysis', make sure to watch it! ;)

=> Therefore: beware bears! Even if the wedge breaks bearish, it is the weakest form of trend reversal. You can always get a smoother trend continuation with wedges => That's why I personal never play those.

All in all, the bulls have the upper hand now: We have made the 12 & 26 EMAs to our support, and if we manage to keep them the next days, it might mean bullish continuation for several weeks to come.

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About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.