DaDude

Identifying trading channels IOTA/ETH

BITFINEX:IOTETH   IOTA / Ethereum
IOTA enjoys strong support and gained some vs ETH.
As a result IOTA found support on the previous descending resistance line of the symmetrical pattern.
If no major news breaks
then I expect a green or orange channel depending on ETH keeping its current price levels or ETH going up in dollar

Just trying to spot trading channels. Your ideas are welcome as I'm new to this and trying to learn.
ETH @ 730.12 dollars
Comment: as you may have noticed at this time there is a descending triangle. (take upper green and lower orange for that formation) I would expect IOTA to breakout into the green channel if no major announcements are to be made. Keep a close eye on BTC going up, in which case ETH will go up and the breakout into the green channel will be confirmed.
To determine the targets, take the height difference before breakout and apply on the other side of the orange bottom line.
Happy newyear!!
Trade closed manually: IOTAETH has chosen to walk the upper green line :)
ETH @ 730.12 dollars
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