Rising wedge is valid?

Salaam

There is a rising wedge in the chart.
Now it seems price breakout to the upside.
If ETH wants to go downside, should return back to the rising wedge in the next 1h candle.
If it does, it converts to a false break, in this case, it itself will be a good sign for sale.

Moreover, the rising wedge is a bearish sign if not cancel.

Note that in many pairs, charts up to daily are overextended and overbought. so, be aware of the downside breaks in case they happen.

Good luck

Komentarz:

Komentarz:

The rising wedge is now unvalidated till the 4h candle close.

Komentarz:

As the upper line is invalidated, the rising wedge is invalidated totally.
I adjust the lower line, here it seems ETH break and retest.
Resistance: 3170 area
Support: 2960