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Ethereum

ETH / USD Local work. Triangle. Breakdown.

By SpartaBTC
Updated
A symmetrical triangle has formed at the top of an uptrend below the level of the previous high. The price is squeezed into a corner, soon the denouement. The potential for working out the triangle is 19%. I think from a marketing point of view, it is advisable to show the price above 1444 the previous all-time high for PR and the continuation of the price movement (like on BTC). But do not forget that a symmetrical triangle can also be broken down by making a false breakout. Therefore, work not on your expectations, but on the trading situation that occurs. Entry in the direction of the breakout of the triangle on the breakout or pullback after the breakout, depending on your trading strategy.
Note
snapshot False triangle breakout. Not a confirmation of the mirror level on a pullback. Breakout of the local uptrend. Potential dragon formation in case of breakout of a downtrend that has formed (purple)
Note
snapshot Breakdown of the resistance of the triangle, at the moment it is being retested
Trade closed: target reached
snapshot + 10% since the rollback after the breakdown of the triangle resistance to the first local resistance. Local correction begins from it. Timeframe 1h
Trade closed: target reached
snapshot +18.13%
Note
snapshot The second time we were unable to overcome this resistance, now it is a rollback. An ascending channel has formed. The price is at the support of this channel. Potential reversal zone.
Note
snapshot + 21.69% 1444/19
Note
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Chart PatternscryptocurrenciesCryptocurrencycryptotradingETHEthereum (Cryptocurrency)ETHUSDETHUSDTTrend Analysis
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