ETHXBT: Ethereum has a very clear triangle
Updated
My analysis of this pair suggests that Ethereum is about to break from a huge triangle present in the daily chart.
The volume information tells us that the fair value price has shifted up and down 5 times already, in smaller and smaller swings, time and price wise.
This is typical triangle behavior.
The safest way to trade it is via a breakout, but I think it will just dive down, so, this is a short in my opinion.
You can enter on breakout, but I'll leave my forecast for time and price intact.
Cheers,
Ivan Labrie
P.S.: Contact me for access to my private groups, currently providing trading signals for BTCCNY futures, analysis on request, private tutoring and also Forex signals and coaching as well.
The volume information tells us that the fair value price has shifted up and down 5 times already, in smaller and smaller swings, time and price wise.
This is typical triangle behavior.
The safest way to trade it is via a breakout, but I think it will just dive down, so, this is a short in my opinion.
You can enter on breakout, but I'll leave my forecast for time and price intact.
Cheers,
Ivan Labrie
P.S.: Contact me for access to my private groups, currently providing trading signals for BTCCNY futures, analysis on request, private tutoring and also Forex signals and coaching as well.
Note
Seems to be breaking up.Watch it, no confirmation for long yet.
Note
Fakeout for now.No trade is safe yet.
Note
Low liquidity drift.No one's interested in ETHXBT it seems.
Note
Seems like we march towards 0.001-0085.
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