ScotianBot

Is Ethereum trading in a Descending Channel.

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Notice a potential Ascending Triangle pattern drawn in blue.


A breakout to the upside of the Descending Channel would mean there is a possible shift from a bearish sentiment to bullish .

This strategy will have you buying the break above the channel.

It’s recommended that buying into this break should occur after multiple tests of the upper channel line. Reason being breakouts early on in the channel often lead to traps as shorts push the price of the stock back down to the lower end of the channel.

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