DannyC914

ETH breaks the triangle convergence

BYBIT:ETHUSD.P   ETHUSD Perpetual Contract
ETH has broken through the convergence of the triangle, but it is currently falling back into the convergence range. Pay attention to the closing price, 1588.45 and 1566.60.
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If ETH closes below the previous low of 1514.00, there will be a large top pattern, which will reverse the upward trend from the beginning of the year.
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The trend after breaking the trend line:
Within the same day, there is a rising k bar followed by several falling k bars, which means that the rising strength is insufficient, and you can pay attention to the closing price of the daily chart . If the closing price returns above the trend line , there is a greater chance that ETH will reach the previous high of 1681.00.
Conversely, pay attention to the trend after ETH falling back to the triangle convergence range.
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