ETHUSD Descending Triangle Breakout Trade Opportunity

2 Mar 2020

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!

3 Mar 2020

Not

2 Points of resistances to clear before price breaks upwards:
Point 1 - 200MA $233+
Point 2 - 50% Fib Retracement Level $241+
(sharing my obsservations)