ETH at downtrend resistance as equilibrium tightens

2 thg 5, 2018

I zoomed in the daily equilibrium to the 4 hour to make it a little clearer. We are looking at an hourly rising wedge that lines up with the downtrend line of the equilibrium pattern and would fit perfectly with a lower high to tighten the range more. I'm cautiously bearish with a price target around 650 for ETH right now, but flexible if the bulls prove themselves. I would love the equilibrium to tighten up a bit further to provide a really clear break with a nice tight stop for an optimal risk/reward setup.