ArShevelev

Ethereum Ascending Triangle Pattern

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Recently I looked trough the charts and I saw perfect ascending triangle developing on ETHUSD . This is important, commonly continuation pattern, but sometimes occurs in market "bottoms" and making reversal in trend. Usually bullish reversal happens with false break down below support line.

Now we can only guess what this triangle will be — bullish or bearish .
By the way, write in the comments what this triangle will be bullish or bearish?

For short-term I am expecting rebound from support trend-line at 110-120$ area with targets near 135-150$.
Mar 05
Comment: Resistance here drawn on daily chart via closing prices
Mar 08
Trade active

Comments

bullish
+2 Reply
This is a bearish Ascending Triangle.
Reply
ETH is looking very Bullish, The Elliott Triangle wave is almost complete with the ABCDE pattern and this follows the rules of the elliot accordingly. we are very Bullish just as the same chart on BTC daily. so we are expecting an uptrend on both btc and eth now. a rise in btc anytime now will mean a rise in eth and vice versa.

cheers to the moon
Reply
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