AzrulAzir

reason to buy ETHUSD

Long
BITFINEX:ETHUSD   Ethereum
To buy some pattern we need some reason,, not only because we have extra free BTC or free USD, but we need to analyze why we wanna buy it, at what price and where is our target.
in this published idea i will share some reason why i buy ETHUSD.

1. ETHUSD inside symetrical channel up, and this is bullish pattern.
2. ETHUSD already break ascending triangle pattern, and this pattern projection at 393.40
3. Ascending triangle pattern projection at same level with double top pattern
4. rightnow, ETH try to break down channel up, but still hold at 618 fibonacci retracement
5. we can buy from this position and aim for ABCD fibonacci pattern projection at 365.95 as target 1, or aim for ascending triangle projection at double top (393.40)
6. if this channel up break down, ascending triangle failed and fibonacci failed. Next major support at 259.19

Good luck

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