Veteran Trader Peter Brandt Comments on Ethereum (ETH) Chart Pattern
ETH slightly rebounded and was up 1.89% in last 24 hours to $1,585
Veteran trader Peter Brandt put his X followers to the test on classical charting principles. Brandt posted an ETH chart that highlighted a pattern. He proceeded to ask his followers if the highlighted pattern was a rising wedge and, if not, what would need to happen to make it a wedge.
For context's sake, a rising wedge is a chart pattern used in technical analysis to predict a likely bearish reversal. It is depicted by a narrowing price range with higher highs and higher lows, both of which are enclosed by upward-sloping trendlines.
The question posed by the veteran trader does not seem not far-fetched, given that other chart patterns resemble the rising wedge pattern, both in structure and in trading strategies.
Read more on U.Today https://u.today/veteran-trader-peter-brandt-comments-on-ethereum-eth-chart-pattern
ETH slightly rebounded and was up 1.89% in last 24 hours to $1,585
Veteran trader Peter Brandt put his X followers to the test on classical charting principles. Brandt posted an ETH chart that highlighted a pattern. He proceeded to ask his followers if the highlighted pattern was a rising wedge and, if not, what would need to happen to make it a wedge.
For context's sake, a rising wedge is a chart pattern used in technical analysis to predict a likely bearish reversal. It is depicted by a narrowing price range with higher highs and higher lows, both of which are enclosed by upward-sloping trendlines.
The question posed by the veteran trader does not seem not far-fetched, given that other chart patterns resemble the rising wedge pattern, both in structure and in trading strategies.
Read more on U.Today https://u.today/veteran-trader-peter-brandt-comments-on-ethereum-eth-chart-pattern
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