A series of lower highs and higher lows over the last ten days indicate the Triangle pattern has been formed. The thrust to the either side is imminent - and you don't want to miss on this next trending move. The chart to the left is the bearish scenario, in which price will plunge to the 8500s area (-200 margin zone). To my mind, it is more probable and actually more favourable for the market. Pay attention to margin zones that are most effective in intraday trading. The bullish scenario activates once the recent pivot of 9616 is penetrated. The target in this case is 10 800 - 11 000.
Kommentera:
A very nice breakout setup in ETH:
