Ascending triangle breakup, on Blackrock ETF news, with target of approximately $2900-3000 based upon 1.61% fib level. In addition, on the weekly timeframe when looking at the Ichimoku cloud, an edge-to-edge trade has activated and it points to the same target.
ETHBTC chart bounced off support at 0.05 and is heading for upper resistance of a multi year wedge formation.
Stop loss at $1900.
ETHBTC chart bounced off support at 0.05 and is heading for upper resistance of a multi year wedge formation.
Stop loss at $1900.
Comment:
Cautiously monitoring this wedge pattern that has now made itself apparent. Might secure profit and look for re-entry later if it begins showing signs of weakness.
Trade closed: target reached
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