Ethereum / EuroShort
ETHEUR bearish symmetric triangle and flat bottom triangle
Bad news for those of us who were expecting an immediate rebound. A symmetric triangle (blue triangle) has forming since February 23rd, with base around 1253 EUR and top at 1423 EUR. It's final confirmation would be when rebounding at 1309 - 1314 EUR. Depending on the way you consider its height, the expected drop would be around 1145 EUR.
In addition, a flat bottom triangle that has been forming since February 24th would strengthen the idea of a bearish trend. Projecting its height, we're locating prices at the same level as the symmetric triangle.
Let us also remember that the previous minimum, located at 1115 EUR, is the result of a previously identified ascending wedge, whose height is also projected on this chart, though pushing prices down to 1105 and 1069 EUR respectively.
In addition, a flat bottom triangle that has been forming since February 24th would strengthen the idea of a bearish trend. Projecting its height, we're locating prices at the same level as the symmetric triangle.
Let us also remember that the previous minimum, located at 1115 EUR, is the result of a previously identified ascending wedge, whose height is also projected on this chart, though pushing prices down to 1105 and 1069 EUR respectively.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.