ETH/USD Ascending triangle formed. Working on the instrument

Updated

An ascending (bullish) triangle has formed under the zone of the level of the historical high of the 2017 HYIP for this cryptocurrency. The formation is completed, volatility has decreased to a minimum. The price is squeezed into a corner. Soon the denouement.

Who does not understand now on the air a similar situation as on BTC before overcoming $ 20,000. Ether lags far behind Bitcoin. You need to understand that ether is one of the 3 main engines and brands of this crypto industry. As I wrote earlier, even from a purely marketing point of view, this zone will be overcome by the "engines" of this cryptoasset. They can scare like BTC in this zone, but the ETH is doomed to super pumping ...

The formation targets are shown on the chart:
1) The goal of the triangle.
2) The target of the upward pennant.

If a thunderbolt hits Vitalke Buterin's heel and this will be steamed up by FUD news as a super negative to the scam, the maximum price can fall to the support zone of the secondary uptrend (green ascending line). The price will rise from this zone anyway

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Breakout of the ascending triangle resistance and historical high. Remember false breakouts (unlikely)

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+ 24% from breakout. The trend is developing

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+35% Potential price movement

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+ 40.72% price moves in an uptrend

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The local BTC correction (at the moment) pulled the expected correction of the entire market with it. ETH is no exception. The local uptrend price has broken through and reached the indicated mirror support level (yellow zone), which is the previous historical maximum of 2017. Which trend will develop depends on this zone. From a marketing point of view, this is not acceptable, for further price growth, after all, the second coin in terms of capitalization after BTC. If there are carry-overs, then a squeeze and so that on the weekly chart if there is a breakout of this zone, then only by the "tail". Bad script. If this zone is still broken and a reversal of the secondary trend occurs, then I showed the levels of potential price stop.

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+14%

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For 13 days, the price is held in the 1800 level zone with minimal volatility. A triangle is forming. Important local levels and trends are shown on the chart.

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The price reached the exact support of the triangle with a squeeze of -15% and a local upward movement began from the reversal level 1572, at the moment + 9.27%

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+ 25% at the moment. A local uptrend is developing, there is a breakdown of the resistance of the triangle and an important price zone

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+ 32.21% approached important resistance (former local maximum). Today is the 2nd. 5

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ETH / USD Uplink. Triangle. My trade for 1 year.

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+ 61.97% exactly up to $ 1 at the specified price level.

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Exactly $ 3333 now. + 72.33% from the pivot point. Pay attention to the volume.

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+ 85.72% (price now $ 3485.80) from a reversal (exact price) in this trend. Pay attention to the zones indicated by arrows and price levels in the idea and update the work under it, add the mosaic, it's not only money, it's interesting. Will there be $ 4290?) You also need to understand that the Bitstamp exchange leads the price of ETH (and not only).

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+103%

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$ 4290 + 171.7% from the breakout of the triangle resistance, from the last pivot point in the 118.88% update Sometimes fractions are more important than the percentage itself. Did you not notice it?) Once again, carefully look at the March poll in the public channel about the price of ETH in May in these dates (poll 3 month 28), also analyze the updates of the work for this period of this trading "idea" Let me remind you of the publication for 4.4 21 (44/21). Does this channel remind you of any coin?

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Levels from 4 04 21 did not change. The levels have been superimposed on the "empty chart" as these are new all-time highs. The exact prices were quoted before the asset rallied in this secondary trend.

From the peak of $ 4290.16 (dark blue, maximum), the dump into the zone of the level (red on the chart) $ 1960.51 and almost squeezed it touched the zone of the 1800.13 level (yellow, reversal). At the moment, the price has reached the $ 2800 level zone. All future levels (important areas for work) were shown when published in advance. Price per idea was followed.

At the moment. An important resistance is a local downtrend (red) price fixation above it will mean the continuation of the growth of this trend, perhaps, for example, the formation of a triangle, where this "drain" will be its base (this is no more likely). Not anchorage - lowering, or at least a sideways movement with a large step. Remember, the uptrend (green) is the dynamic support.

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Local work.

Long script
ETH / USD entered the $ 2800 level zone and is now in the resistance zone of the local downtrend (red). Crucial moment. Fixing the price above the downtrend will continue the development of this local uptrend and the potential for a return to the previous secondary trend.

Short script.
Failure to overcome this resistance, the decline and the formation of a local "double bottom" in the event of a price stopping in the zone of support level 2100. A breakthrough of this support zone - the formation of a descending channel. Stop at the intersection of the dynamic support of the trending and horizontal support of the zone of influence of the level of the 2017 highs.

SpartaBTC

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