ETHUSD: Ascending Triangle On 1hr Chart Needs To Break $175

Three touchpoints at the horizontal resistance level of $175, followed by multiple touch-points on rising support trend-line of the ascending triangle. Price needs to continue to find support from the cluster of MAs (20,50,100) that have started trending upwards after flattening out, rather than falling back into the long-term support area between $155-$165 approximately . The target is 10.69%, stop loss <4% depending on the triangle support at the time. Notice the distinct bullish divergence on the RSI, despite most time frames look bearish for ETHUSD.

BTCUSD otherwise looks to be in a short-term symmetrical triangle, so time to be cautious:

Order avbruten:

Walked out of the pattern.

Kommentera:

Although, there is still an ascending triangle that's valid.