ETH symmetrical triangle
ETH has been moving inside a symmetrical triangle for the 6 months. Recently it has moved to the lower part of the triangle with a low at 450 and riding up to 550 finding heavy resistance at the median of the triangle and at the downtrend (blue dotted line) simultaneously. Symmetrical triangles tend to be continuation patterns, when found in a bullish trend the break out tend to be to the upside.
Play: a move above 550 would indicate bullish action
Play: a move above 550 would indicate bullish action
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.