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dukeofdolma

ETH/USD approaching asc tri, breakout to $580

Long
Ethereum (BITFINEX:ETHUSD)  
dukeofdolma Updated   
BITFINEX:ETHUSD   Ethereum
Fibonacci Trend Lines Support and Resistance Ethereum (Cryptocurrency) ETHUSD Ascending Triangle
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fibonacci trendline supportandresistance ethereum ethusd ascendingtriangle
Ethereum looks close to breaking out of its long-running ascending triangle pattern. Taking the high and low at the start of the trend we can fib out to $580 as a reasonable target. This is invalidated if price breaks out south below the support line.
Comment:
We are clear through the 0.786 fib ($352) zone of resistance. Next resistance to watch for is the $400/ATH zone. Expect volume to explode if daily closes above $400.
Comment:
New ATH reached, $400 resistance being tested!
Comment:
$400 resistance broken. Conservative target now is $580.
Comment:
As expected, $400 was strong resistance now turned strong support. Any buy at around $400 or below is a great entry here.
Trade closed: target reached:
Nailed it! $580 target reached on the dot.
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