Since 14 Feb #ETC has been playing ping pong in a very symmetrical triangle pattern. The symmetrical triangle (also known as a coil or isosceles triangle) occurs when there is a downward sloping resistance line and an upward sloping support line that meet together at the right side of the pattern. Technically, for the triangle pattern to be valid, the support line must be touched by prices twice and the resistance line must be touched by prices twice. The cycles have been roughly two days between each top touch and each bottom touch. If it follows the same cycle then the breakout to the top will only occur on the 28th. Lets see if FOMO can make it happen sooner.
Trade active
⋅
Two days ago I suggested above that the bounce on the bottom rising wedge trend line will be on the 28th. Today is that day and it seems as if all is going to plan.