A friend and I were talking about trading back against the dollar with his cryptos. As I was sitting on an ETHBTC trade,
I decided to come back from the blockchain and see how we're doing with Ethereum and Dollars.
Overall I see a nice symmetrcal traingle almost complete for a breakout.
Since there is a slim parallel channel inside the triangle, and MACD looks like its about to cross,
I'm gonna go long on this one.
Entry should be around the .78 Fib level.
Take Profit can be at around next resistance level or beyond if you feel comfortable.
However RSI is neutral and there are a few news candles coming
So BEWARE! It could go either way.
Good Luck!
I decided to come back from the blockchain and see how we're doing with Ethereum and Dollars.
Overall I see a nice symmetrcal traingle almost complete for a breakout.
Since there is a slim parallel channel inside the triangle, and MACD looks like its about to cross,
I'm gonna go long on this one.
Entry should be around the .78 Fib level.
Take Profit can be at around next resistance level or beyond if you feel comfortable.
However RSI is neutral and there are a few news candles coming
So BEWARE! It could go either way.
Good Luck!