The ETH/USD situation is explained in this analysis so let's do it. The first chart shows a symmetrical triangle which has not broken yet and after the upward break out we shall see a pump in the price.(AB=CD) The second chart shows us that if we use the crab pattern we can see that the price is about to increase and reach it's resistance which is 2400$!
Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad.
Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Thank you for seeing idea . Have a nice day and Good luck
I am seeing eth chart trending in descending broadening wedge pattern, any idea where is this heading to ?
jung99
⋅
@Cassendre, yes, you are right , it is in a broadening descending wedge like bitcoin chart , so it depends totally on btc , if it goes up the all the crypto follows it . If eth goes below 1550 , it is in a very dangerous condition
Keep an eye on bitcoin chart and eth/btc chart .
andersaasboe
⋅
Well explained, easy to follow your thoughts. Good idea:)