Triangle Development

After range trading from 270 to 324(50 DMA to 500DMA), the weekly chart is still looking moderate bullish pattern.

Let's see if 500Day MA could be breakup or not,
IF it could be breaking it up, then a triangle upper pressure will be around 335 to 352.
(Triangle pattern is illustrated in yellow color on the chart.)

As per our previous mentioned Cross trading: buy Ethereum and Sell Bitcoin is a protection strategy, and it sill provide a stable strategy.

Happy Trading!

*It is a personal record only, not financial advise.
*Trading is always in a high risk, please manage your own risk.

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Ethereum took fire for Bitcoin yesterday,
and now Bitcoin lead the way for Ethereum.
It has breakout the 500 days moving average,
let's see if it could challenge the previous high(324.5) successfully or not?
If the previous high(324.5) is breakup, then the pressure will be around 350 to 360 which is a key pressure neckline zone.
If it cross over the neckline zone, next target might be 400 to 450.

Let's see the development next.

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A failure development?
or
a Bullish flag?

Bình luận:

Sunday dumper comes again.
It is a failure triangle development.
Still keeping previous post's range trading between 400 D SMA and 500 D SMA.
500 D SMA provide a very strong resistance. Ethereum is weaker than Bitcoin.
It looks like want to test previous low(222.88 to 226.56)
Let's see can it hold or not. It not, then it might test 213.
We plan to go long if it test
1. test 400 D MA,
2. test previous low 226.56
3. test previous low 222.88