Ethereum Long Term View + Byzantium Update

Previously at these heights Ethereum             had clean Bullish run which was encouraged by Flag Pattern .
When compared this to the current bullish run, we can see a lot of consolidation. Which may indicate uncertainty around it.
Confirmation for further uptrend movement is that when the price is above 350 level.

The Ascending Triangle broke upwards and we reached the edge of the Rising Wedge pattern.
The Rising Wedge is considered trend reversal pattern aka             Bearish Pattern .
If the price breaks support level of the Rising Wedge we should test support around 314 level. If the support does not hold lower support levels will be tested.

Thing to consider while trading ETH:
Ethereum             launching Byzantium fork by 16th of October (tomorrow) which may have a diversified effect on the price movement.
Rising Wedge Pattern

Always be cautious of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!

I do appreciate constructive criticism and feedback!

评论: Rising Wedge pattern broke out
great job!!
yarr giola79
@giola79, thanks!
@yarr, $270/280 zone can be a good imput
yarr giola79
@giola79, had small spike to 280 level
@FUTUREBOYCOLIN, thank you ! :3
+1 回复
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