Hi guys, I would like to share with you my middle-term view about ETHBTC. I hope it will be useful.
Let’s start from identifying primary trends (a primary trend last for several years).
I’ve recognized 2 primary trends:
Period Duration Start price End price
#1 Jun’17 – Feb’20 32 M 0.160 0.017
#2 Feb’20 – today 21 M 0.017 0.81
PT#1 formed a pattern “bearish wedge”. PT#2 consist of 2 middle trends:
Period Duration Start price End price
#1 Feb’20 – May’21 15 M 0.017 0.082
#2 May’21 – today 7 M 0.082 0.071
The price movements in MT #2 fits into the symmetrical triangle pattern. Here I make an assumption about the type of this pattern (symmetrical triangle).
Key features of a symmetrical triangle:
• it is a continuation pattern
• the exit from the triangle occurs at a distance from ½ to 2/3 of its length
• the breakout or breakdown targets is equal to the distance between the initial high and low
• it consists of 5 waves
Key conclusions:
1. The price will remain inside this pattern until Dec’21.
2. We should expect an exit through the upper border.
3. The breakout target is 0.1
My Trading strategy:
Time horizon : 4 M till Mar’22
Action : Buy @ 0.07
SL : 0.06 (lower border of the triangle)
TP : 0.1
I have 2 questions for you:
Do you agree that this is a symmetrical triangle?
Do you agree with my trading strategy?
Please leave comment with your opinion.
Thnx for reading. I will be glad to discuss it.
Let’s start from identifying primary trends (a primary trend last for several years).
I’ve recognized 2 primary trends:
Period Duration Start price End price
#1 Jun’17 – Feb’20 32 M 0.160 0.017
#2 Feb’20 – today 21 M 0.017 0.81
PT#1 formed a pattern “bearish wedge”. PT#2 consist of 2 middle trends:
Period Duration Start price End price
#1 Feb’20 – May’21 15 M 0.017 0.082
#2 May’21 – today 7 M 0.082 0.071
The price movements in MT #2 fits into the symmetrical triangle pattern. Here I make an assumption about the type of this pattern (symmetrical triangle).
Key features of a symmetrical triangle:
• it is a continuation pattern
• the exit from the triangle occurs at a distance from ½ to 2/3 of its length
• the breakout or breakdown targets is equal to the distance between the initial high and low
• it consists of 5 waves
Key conclusions:
1. The price will remain inside this pattern until Dec’21.
2. We should expect an exit through the upper border.
3. The breakout target is 0.1
My Trading strategy:
Time horizon : 4 M till Mar’22
Action : Buy @ 0.07
SL : 0.06 (lower border of the triangle)
TP : 0.1
I have 2 questions for you:
Do you agree that this is a symmetrical triangle?
Do you agree with my trading strategy?
Please leave comment with your opinion.
Thnx for reading. I will be glad to discuss it.