ETHUSD- Bullish reversal around here.

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
After the -29% drop from its current high at $222.14(lossing $64.55), price has been forming a long and huge falling wedge which price got to at the resistance and pulled back down, respecting the down-sloping resistance trendline .
Shape Price follows two down-sloping and converging trendlines . Breakout should most times be the average distance from the breakout is 61% of the way to the triangle apex (where the trendlines join).
Most importantly, Wait for a close outside one of the trendlines before taking a position. Tall patterns perform better than do short ones.
Volume trends downward 75% of the time until the breakout, breakout can be in any direction but is upward 68% of the time.
Breakout price: $202.86
Resistance 1: $222.14
Resistance 2: $263.36
Resistance 3: $302.92
Resistance 4: $357.78
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Hi, good Idea. So what do you suggest as entry and SL ?

agre with th idea , not sure if we will fail to break the resitence, and stay inside the falling wedge to break ti later. mainly with BTC in a more clear bear situation.

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