thomasfar6
Panjang

ETHEREUM - $950 INBOUND?! Ascending Triangle Pattern.

BITSTAMP:ETHUSD   Ethereum / Dolar
If your name is currently looking like a very special child, there is huge profit potential if you break out above the ascending triangle pattern and it does not fail. We could expect to see prices as close to $1,000 and to be more accurate $950, from here we will find some very strong resistance to it may result in a pool back in the price, this is a medium-term trade so don't expect it to happen instantly.

On the other hand, if the ascending triangle pattern fails and we break the below the support which is indicated by the pink line. We could expect to see prices go to previous values which are indicated by the support lines.

  • MACD - is leaving a lot of space for upwards movement if it breakouts above the line you can expect it to continue.
  • RSI - is not as interesting as the MACD but it does not show any bearish signals, so you can expect that to work in favor of the bulls.

  • Orange - Resistance.
  • Pink - Support.

As always trade the lines accordingly.
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