#Ethereum (ETH/USD) Symmetrical Triangle. 3 weeks after crash
Symmetrical Triangle is seen 3 weeks after the price drop from $250.
Trading Setup
Bull Scenario:
Open limited position if the pair breaks out the triangle.
Add more position when price breakout every 2 resistances at $ 155 and $ 180.
Currently trading at the EMA (20) and EMA (50) 4-hr candles, a golden cross is seen, but might be a fake one.
The pair tend to consolidate between the symmetrical triangle, which is positive if the bulls can surge the price to break the triangle.
Bear Scenario:
The bears suppress the power of the bulls at $142 down to $134 in the last two candles, indicating aggressive bears.
Close any position if the pair breakdown the triangle.
If it is broken, huge negative.
Most likely will break the Support 1 at $118, but the bull will likely defend aggressively the Support-2 level at $104.
The volume transaction is declining to indicate decreasing power of the current trend
A similar symmetric triangle of the RSI trendline is seen.
Trading Setup
Bull Scenario:
Open limited position if the pair breaks out the triangle.
Add more position when price breakout every 2 resistances at $ 155 and $ 180.
Currently trading at the EMA (20) and EMA (50) 4-hr candles, a golden cross is seen, but might be a fake one.
The pair tend to consolidate between the symmetrical triangle, which is positive if the bulls can surge the price to break the triangle.
Bear Scenario:
The bears suppress the power of the bulls at $142 down to $134 in the last two candles, indicating aggressive bears.
Close any position if the pair breakdown the triangle.
If it is broken, huge negative.
Most likely will break the Support 1 at $118, but the bull will likely defend aggressively the Support-2 level at $104.
The volume transaction is declining to indicate decreasing power of the current trend
A similar symmetric triangle of the RSI trendline is seen.