ETHUSDT stalling at the 650 level. Here's part of the reason why

Market is reacting to resistance trend line drawn from the FEB-2020 HIGH. Looks like a rising wedge that could facilitate a bear leg to re-test previous lows. I have my doubts we will see a big pullback mainly because of the strength of the preceding trend but don't take my word for it. A target for such a pullback would be that 480 level (good buy level for me). If we see a weekly close above 650, increased chances of market seeing 800 first before any non-trivial pullback.

Still bullish overall of course.