ETHUSD along with BTCUSD seem to be forming symmetrical triangles. As of now both of ETH and BTC's monstrous rally was halted by the upper trend line. The moving averages are not yet BEAR, in fact they do not look bearish at all. However, StochasticRSI is approaching oversold territory on the 2H timeframe. If we get a reversal off that upper trend line, look to short until price hits the bottom trend line and see what happens. I really believe in crypto, it's definitely a far better way to transfer money and store value than physical and even digital fiat. As a long-term bull I would love to see BTC and ETH eventually break upwards out of the triangle. Stop Loss $151 Kraken price and make sure to wait for the price to retest and bounce upwards if price breaks out now.
Wait for price to reject further to short. If price breaks up above 151, long.
Wait for price to reject further to short. If price breaks up above 151, long.
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Geez the bitcoin fake-out was crazy! I entered a short as it failed to breach the upper trend line even with high volume. Good Luck.
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Possible Ascending Triangle on Eth created by the blue resistance and the yello rising trend line. Only trade the breakout in either direction, short closed for the moment.
Possible Ascending Triangle on Eth created by the blue resistance and the yello rising trend line. Only trade the breakout in either direction, short closed for the moment.