EthereumLong
ETHER - Triangle Pattern $1.000 for Christmas!
Updated
Hey traders, I hope you be fine! This afternoon I was watching my last ETHUSD analysis (linked bellow), and it took me a couple of minutes to realise that there is a big ascending triangle pattern right now in Ether.
If you visit my last ETHUSD post, you will notice that the $850 target price was reached two days ago as predicted, and curiosly it has become the new resistance line of the price. As you can see, Volume has been decresing since the beginning of the formation of the pattern, which is a great signal that support the idea of a triangle pattern formation!
Addionatly, MACD is about to get to a new inflextion point which is a great bullish signal, and therefore can be a great entry point. So, what can we expect from this? If triangle pattern consolidates, its quite probable ETHEREUM price will get to $1.000 target by Chistmas, which is an amazing profibiality considering that this is a short term investment. I hope this will be my Christmas gift!
MY ORDERS
BUY LIMIT: 875
Why BUY LIMIT ? In the majority of the cases when a triangle breakout occurs, price use to test again its last resistance line, which now becomes its new support line.
Take Profit 1: 950
Take Profit 2: 1040
Remember numbers can vary depending on your risk profile and price expectations. The numbers I propose should be use as a reference :)
If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis every day :)
If you visit my last ETHUSD post, you will notice that the $850 target price was reached two days ago as predicted, and curiosly it has become the new resistance line of the price. As you can see, Volume has been decresing since the beginning of the formation of the pattern, which is a great signal that support the idea of a triangle pattern formation!
Addionatly, MACD is about to get to a new inflextion point which is a great bullish signal, and therefore can be a great entry point. So, what can we expect from this? If triangle pattern consolidates, its quite probable ETHEREUM price will get to $1.000 target by Chistmas, which is an amazing profibiality considering that this is a short term investment. I hope this will be my Christmas gift!
MY ORDERS
BUY LIMIT: 875
Why BUY LIMIT ? In the majority of the cases when a triangle breakout occurs, price use to test again its last resistance line, which now becomes its new support line.
Take Profit 1: 950
Take Profit 2: 1040
Remember numbers can vary depending on your risk profile and price expectations. The numbers I propose should be use as a reference :)
If you find this analysis helpful, don't forget to follow, like and comment. I use to upload new analysis every day :)
Note
Ascending triangle example ifcmarkets.es/uploads/docs/IFCM_patterns_triangle_ascending.pngNote
Critical moment for ETHUSD. Price is testing $700 resistance line. MACD about to get to a new inflextion point?Note
BTC drop reaches H&S height. Time to recover? 
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