ETHUS Symmetrical Triangle Continuation Bullish Pattern on 4hrly

27 Mei 2020

ETHUSD is in a symmetrical triangle pattern. This is usually a continuation pattern which means in this case, the symmetrical triangle was formed after a bullish move and is possibly currently consolidating in this pattern for a move higher.

Wait for breakout confirmation and to be on the safer side wait for a bounce off the top line after the breakout to get a further confirmation of this bullish move to around 248-250 which is in the price region of the long-term downtrending line from 2018.

You can read up on symmetrical triangle patterns.

Please do your own research. I only post possible bullish patterns and am overall bullish on ETH and BTC.

Only trade what you can afford to lose, nothing is 100% in life, ever.

BTCUSD is on a falling wedge pattern. This is usually either a continuation or reversal pattern. As ETHUSD and BTCUSD price are correlated, it would be a good idea to pay more attention to any breakouts on BTCUSD descending wedge pattern too.

Good luck and stay safe!

27 Mei 2020

Nota

Here is the BTCUSD falling wedge pattern chart.

27 Mei 2020

Nota

Also wanted to add the fact that there will has been and will be increased ETH coin purchases as the new ETH 2.0 proof-of-stake upcoming network which will give hodlers up to 10% interest on their investments is very attractive to investors. A minimum stake of 32 coins will be needed for each batch staked on the network. When this system is up and running, there is expected to be less selling and more hodlers for ETH in the long-term.

Here is an article by cointelegraph that touches on this bullish sentiment:

cointelegraph.com/news/ahead-of-ethereum-20-launch-3-key-metrics-point-to-eth-price-surge