Ethereum has been finding some good support since the selloff and has formed a symmetrical triangle, which most traders know is a continuation pattern.
However in this situation a break could happen to the topside or to the bottom. We will be patient while the market shows us our next move.
A break below $1000 will most likely result in more sellers stepping in driving the prices lower, we can anything between $700 - $900 should the bears win the battle.
A break above $1100 could signal the bulls to push the prices higher, in which case I would expect a target around $1200 - $1400 if there good price action confirming the breakout.
Feel free to discuss this trade idea with me.
However in this situation a break could happen to the topside or to the bottom. We will be patient while the market shows us our next move.
A break below $1000 will most likely result in more sellers stepping in driving the prices lower, we can anything between $700 - $900 should the bears win the battle.
A break above $1100 could signal the bulls to push the prices higher, in which case I would expect a target around $1200 - $1400 if there good price action confirming the breakout.
Feel free to discuss this trade idea with me.
Comment:
Ethereum performed well, well done to all those that followed the trade.