🔥 Ethereum Symmetrial Triangle: Break Out Or Consilidation

Over the course of two weeks, ETH has formed a nice symmetrical triangle pattern. These patterns are classically consolidating patterns which break out into a continuation of the trend.

In the shorter-term, I'm expecting the price to follow the pattern. A key level to watch is going to be the upper resistance of the triangle. If that one holds, expect more consolidating price action.

In case of a break out, I'm looking at the $4450 and $4650 areas for potential exits.

Happy trading!

評論:

Lower bound of the pattern seems to hold for now. A bearish break out could signal further downside, $3900 - $3700.