Ethereum (ETHUSD): Triangle Thrust Imminent

Updated

Price has been coiling for quite a while, forming a triangular pattern. If this is indeed a wave Triangle (A-B-C-D-E), then new record prices are soon to come. Considering that main trend is rising, the possibility of breaking from the triangle upwards is higher. Yet, we should also take into account an alternative scenario, under which the break of $287 will generate a sell signal with targets below $250. Anyways, triangle-based breakout trades are usually very beneficial, so don't miss out on this opportunity.

Note

We need to see a more decisive - not 1 bar spike - break of $287 level to generate sell and avoid this kind of scenario, which is valid too:

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