ETHUSDT
2025-02-09
Category: None

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.