sixtysecondalpha

“But rising wedges are bearish” No - context matters. So many people don’t know a single thing about technical analysis. That’s why I’m here.

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$ETH trying to confirm an Adam & Eve reversal. Confirmation would be daily closes above the neckline. These are strong bottoming / reversal patterns. We will know soon enough.

🔥SOME ALPHA FOR U TA HOMIES🔥 This wedge isn’t bullish just because it’s a wedge. It’s bullish because of context, structure, and positioning. First, zoom out. This is forming after a sharp sell-off into ~60K. That matters. This isn’t a topping structure at highs, it’s compression after an impulsive move down. That shifts it from potential distribution to a base or reversal structure. Second, the structure itself is a rising wedge. Lower highs are getting weaker, which tells you sellers are losing aggression. At the same time, lows are being defended, which means buyers are stepping in. That’s classic seller exhaustion and absorption, which typically leads to expansion higher. Third, price is compressing directly into a key horizontal level around 80K. If this were bearish, you would expect repeated rejections and continuation lower. Instead, you’re getting higher lows pressing into resistance, which signals pressure building, not rejection. Fourth, think in terms of liquidity. There’s a clear cluster of highs sitting above. Markets don’t usually walk away from that cleanly. The typical behavior is compression → breakout → run liquidity, which favors an upside move first, even if it eventually reverses later. Fifth, internally the structure is shifting. You likely have a CHoCH and higher lows forming inside the wedge, which is early-stage transition from bearish to neutral or bullish. That’s not what continuation down usually looks like. That said, this isn’t guaranteed bullish. It’s bullish pressure, not confirmation. It turns bearish if you get a failed breakout above 80K with a sharp rejection, or a breakdown below the wedge low that takes out the higher low and opens a move back toward 60K liquidity. The clean way to frame it is simple. Below the wedge low, it’s bearish continuation. Above the wedge and 80K, it’s bullish expansion.

I missed the long entry I’ve been waiting for on $NEAR . Shame. I will enter if this level gains acceptance. Would prefer to break the 200day before entry. What a beautiful candle today tho. This is why we buy spot