ETH is trying to get back into the falling wedge !
2025-02-09
Category: None

Hello Traders 🐺,

First of all, I want to  thank you all  for your incredible support recently! My last idea about ETH is  going absolutely viral , and now I’ve decided to share a  quick update on the short-term price movement.
 
  


As you can see in the picture above,  ETH is currently below an orange resistance line and above a key support level , which, in my personal humble opinion,  could be very bullish  for the following reasons:

1️⃣ A  falling wedge  is usually considered a  bullish pattern , but what makes it  extremely bullish ? When the price  breaks below  the falling wedge’s support line and  comes back into it  with a huge wick to the downside.

💡 But why is that bullish?
Because it can be considered a  bear trap , shaking out weak hands, and showing us that the  bulls are here  and ready to take control. This could result in a  strong move to the upside. 

📈 As you might know, the  price target  for a falling wedge  is typically the top of the wedge , which in this case is  around $4,000 .


2️⃣  The second reason is very simple , and we already discussed it in my previous idea about  BTC.D  (you can find the link below this idea). So, make sure to  read it carefully  because the  overall condition of altcoins depends on it. 

📌 Also, I plan to  publish a new update about BTC.D in the near future , so  make sure to follow me  for upcoming updates!

 ( this is not a financial advice ! ) 


