ETHUSD Descending Triangle Breakout Trade Opportunity
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Descending Triangle breakout trade opportunity. Breakout should happen by 4th March, Wednesday. I am leaning bullish as I always am due to the long-term bullish trend on bitcoin. ETHUSD price is correlated to BTCUSD price movement and the halving is around the corner.
Also i have a previous chart that touches on the fact that ETHUSD got rejected about at least 9 times around 260-290 region before finally breaking through to hit the 360+ high the last time.
Beware of fakeouts, wait for confirmation candle(s).
Trade only what you can afford. Nothing is 100%. Good luck!
Also i have a previous chart that touches on the fact that ETHUSD got rejected about at least 9 times around 260-290 region before finally breaking through to hit the 360+ high the last time.
Beware of fakeouts, wait for confirmation candle(s).
Trade only what you can afford. Nothing is 100%. Good luck!
Nota
2 Points of resistances to clear before price breaks upwards:Point 1 - 200MA $233+
Point 2 - 50% Fib Retracement Level $241+
(sharing my obsservations)
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