Ethereum: RW Alert

This ETH chart ties into the BTC chart I uploaded the other day and reenforces the concept of a potential further downside over the course of the next few months. Rising (aka ascending) wedges are by nature bearish harbingers of price action. They are essentially lazy crooked tops where the micro support and resistance lines both rise in an unparallel fashion. In the case of ETH, as in BTC, I'm anticipating another possible intra-wedge push, in the form of a micro rally to draw in another wave of retail investors, before the floor falls out again and we take another plunge to re-mitigate the prior lows (possibly). In any case, be prepared for rough sailing around late summer/early fall.