It seems like the Ethereum to Bitcoin chart is setting up a large Ascending Triangle on the Weekly timeframe which is very bullish for Ethereum. It seems like we can be in this ascending triangle for about a couple more weeks or even months but once the breakout happens and fully confirms we will be seeing major moves for Ethereum and possibly reach the All Time Highs.
How to trade ascending triangle
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. Once a breakout is confirmed typically you are looking for a retest to confirm the support line before going to the upside which is also a great buying/longing entry.
How to trade ascending triangle
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. Once a breakout is confirmed typically you are looking for a retest to confirm the support line before going to the upside which is also a great buying/longing entry.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.