**KRAKEN: ETHUSD 1D HEIKIN ASHI **
On the daily time frame
We broke out on the Descending Broadening Wedge. The Fibonacci re-trace taken in the downtrend now reflects the price on the fib. 0.5 ($3250) encounters resistance. The Descending Broadening Wedge with a target price of $3917 would be surpassed with a completed Inverse Head and Shoulder formation and appear to give the bulls the impression of heading towards $4500. To break the downtrend (from ATH $4867), the bulls may well claim the $3600. The $3917 will be a zone next. This region will be visited for the 5th time since May 2021. 1x before the bulls managed to get through and then managed to realize the current ATH. The playing field is marked on the map.
In the event of rejection, passing the right shoulder will knock out the inverse Head & Shoulder and a drop to $2160 isnt that bad of an idea.
Keep calm, trade safely and manage your risk.
*(Disclaimer: This is not financial advice)
On the daily time frame
We broke out on the Descending Broadening Wedge. The Fibonacci re-trace taken in the downtrend now reflects the price on the fib. 0.5 ($3250) encounters resistance. The Descending Broadening Wedge with a target price of $3917 would be surpassed with a completed Inverse Head and Shoulder formation and appear to give the bulls the impression of heading towards $4500. To break the downtrend (from ATH $4867), the bulls may well claim the $3600. The $3917 will be a zone next. This region will be visited for the 5th time since May 2021. 1x before the bulls managed to get through and then managed to realize the current ATH. The playing field is marked on the map.
In the event of rejection, passing the right shoulder will knock out the inverse Head & Shoulder and a drop to $2160 isnt that bad of an idea.
Keep calm, trade safely and manage your risk.
*(Disclaimer: This is not financial advice)
Order cancelled:
did'nt manage to break the resistance and we passed the right shoulder so the formation is eliminated
Tims.Technische.Analyse by TIMTIBBO