ETH - Mixed Signals with a trading opportunity!Ethereum has been consolidating in the ~$300ish range for quite a while now. Alts have been quite bearish due to the crazy BTC movement, but ETH has been holding out pretty well in USD price.
I am getting lots of mixed signals on ETH now and it looks like we are imminent for a good pump (70% chance) or a dump (30% chance)
Devcon3 is starting in a few hours and any good news of partnerships/upgrades will definitely bring the price up within the 4 days of this conference.
For a safe trade, you can enter the market at:
Entry: $313 (Once we break the ascending triangle's resistance line)
We have target profit as noted above
Stop Loss: $277.5
If you choose to enter now (At $297), make sure you set your stop loss at $277.5
The bullish confirmation will be "probably" invalidated once we break the ascending triangle downwards.
The reason why I am saying "probably" and not giving an assurance is because positive news is more powerful than technical analysis so there is still a chance that we see a pump if we break that ascending triangle downwards. As long as your stop loss is set, you are safe!
Good luck!
