After the dump in the market, ETHUSD price is clearly showing a bullish reversal chart pattern called THE ASCENDING TRIANGLE CHART PATTERN.
The ascending triangle chart is considered to be a continuation chart pattern.
We look for a bullish continuation to the upside as price is above the 200day moving average serving a a support level.
When price continue hug the horizontal resistance there is high probability that price break through it.
The breakout from the horizontal resistance(with the close of the price, the body of the candlestick), will indicate a long position to the upside.
The levels to keep an eye on are as follows:
Breakout levels : $196.14
Resistance 1: $201.68
Resistance 2: $210.74
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.
The ascending triangle chart is considered to be a continuation chart pattern.
We look for a bullish continuation to the upside as price is above the 200day moving average serving a a support level.
When price continue hug the horizontal resistance there is high probability that price break through it.
The breakout from the horizontal resistance(with the close of the price, the body of the candlestick), will indicate a long position to the upside.
The levels to keep an eye on are as follows:
Breakout levels : $196.14
Resistance 1: $201.68
Resistance 2: $210.74
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.