ETHBTC LOCKED UP INSIDE THE FALLING WEDGE - ANALYZING G. ANGLES
Ive looked at deeper stuff and can confirm that eth is still in a sliding mode along the 3x1 and 3x0 arcs. At this time, bears rolled it in a halt between 2x1 and 2x0 arcs, could be very temporary before bulls are headed off, and then more down. The undeniable fact is, 1x1 angle and 2x0 arc both limit the room for the upside to 0.022 ~ 0.0225 which threatens the support with an upcoming terror unless there is a pin bar that could assist in breaking both 2x1 uptrending angle and 1x1 downtrending angle.
Time is limited, space as well. Therefore I dont see the green zone as a safe bet as longing from here might lead to being stopped out at the very bottom of the wedge. If it had not been traded well below the midline of a pin's tail the green area would have gotten much greater odds to not capitulate that early. That being said, the rationale behind me wanting it down is that it totally broke below 2x1 angle and keeps zeroing the chances for the support to withstand as wedge narrows down.
Whats the most crucial to monitor here is 3x1 and 4x1 angles. 2x1 arc has just been broken. Whether it slightly subsides compared to the 2x0 arc will depend on today's close. To sum it up, it will touch 0.0215, then down to 0.015.
Time is limited, space as well. Therefore I dont see the green zone as a safe bet as longing from here might lead to being stopped out at the very bottom of the wedge. If it had not been traded well below the midline of a pin's tail the green area would have gotten much greater odds to not capitulate that early. That being said, the rationale behind me wanting it down is that it totally broke below 2x1 angle and keeps zeroing the chances for the support to withstand as wedge narrows down.
Whats the most crucial to monitor here is 3x1 and 4x1 angles. 2x1 arc has just been broken. Whether it slightly subsides compared to the 2x0 arc will depend on today's close. To sum it up, it will touch 0.0215, then down to 0.015.
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Time to look for a pin with a huge tail. See where it closes and where a tail ends.
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This chart is outstanding. I'm genius.
