Possible Break-out for Ethereum
Updated
Ethereum is positioned for a strong move (seemingly to the upside.) It has previously showing an Ascending-Broadening-Wedge chart pattern (with a downward breakout) which lasted for several months. The volume for this Broadening Wedge pattern also showed as some-what irregular, but had an overall trend upward. Eth is now showing signs of a descending triangle that's lasted several weeks already. I've highlighted a possible "buy zone" (the red oval) that I've considered in my personal trading technique.
*Additional Pattern Notes: Ascending Broadening Wedge: For those which breakout downward, 81% of those act as reversals of the prevailing price trend. Credit: (Thomas Bulkowski: The Site Pattern)
*Additional Pattern Notes: Descending Triangle: Breakout- Can be in any direction but is upward 53% of the time. Credit: (Thomas Bulkowski: The Site Pattern)
*Additional Pattern Notes: Ascending Broadening Wedge: For those which breakout downward, 81% of those act as reversals of the prevailing price trend. Credit: (Thomas Bulkowski: The Site Pattern)
*Additional Pattern Notes: Descending Triangle: Breakout- Can be in any direction but is upward 53% of the time. Credit: (Thomas Bulkowski: The Site Pattern)
Note
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