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BrucePowersCMT
Dec 12, 2017 6:01 PM

Ethereum reaches initial Symmetrical Triangle breakout target. 

Ethereum / DollarBitfinex

Description

Ethereum (ETHUSD) ETH #Cryptocurrencies broke out of a large multi-month symmtrical triangle formation on November 23. Since then is has advanced as much as approximately 64.5% as of today's 626 high, and 60.5% in just the past six days. Today's rally reached the minimum target derived from the large triangle pattern, at 625.80. The triangle target (minimum target) lines up with the 61.8% Fibonacci extension of the secondary decline within the triangle thereby potentially strengthening its significance, either as resistance, or as a breakout level to be followed by further strength. #Crypto
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