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Ethereum testing major resistance area!

BITFINEX:ETHUSD   以太坊 / 美元
Ethereum             is now testing our major resistance area at 717 to 748 (61.8% Fibonacci retracement , 61.8% Fibonacci extension , horizontal overlap resistance area , bearish price action) and a strong drop could occur at this level to push price to at least 583 support ( Fibonacci retracement , horizontal swing low support). Our next major level of resistance is at 809 ( Fibonacci retracement , horizontal breakout resistance level ).

Stochastic (34,5,3) is seeing strong resistance below 97% where a corresponding drop could occur.

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This analysis is provided as general market commentary and does not constitute investment advice.
Doesn't consolidation around the resistance level implies there is an ascending triangle (and a possible upward breakout)?
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Hi Bro, great Analysis
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