Likely Bullish Ascending Triangle On ETH Daily

Updated

When looking at ETH on daily chart with heikin ashi candles, you can see much clearer the ascending triangle that has formed even while BTC has been undecided in it's direction.

This triangle will likely tap the bottom once more before moving up to make a breakout, however, isn't required to do so.

Watch the daily for decisive breakout either up or down.

Bullish break should lead to at least the .618 fib being tested (~$3,300) while a bearish break should lead to another test of the 200EMA or the 0 fib (~$2,100)

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Having a look at the ETH/BTC pair you can see a similar pattern on the 4hr chart! It's just broken out of the triangle!

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Bit more in-depth look at the same chart:

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Previous chart has been published so anyone can follow it if they wish

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RandomOracle

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