ETHUSDT end of the corrective triangle

POLONIEX:ETHUSDT   Ethereum / Tether USD
225 7
Decision time.
If my count is right, we are already working on an e in the third sub-degree. This means a lot of pressure is accumulating.
yes, the fall in price has stoped at the green trend line, and begun last hours to easily recover going up, lets see what will be next
ligand Rider77
@Rider77, of course my count might be wrong and the correction may take longer. For example, the present triangle might form a complex "c", and d and e are still to follow.

But I like the "untidy" look of the shown big triangle unfoldinge since june. If a triangle is too perfect and all its edges are in line, it is mostly a fake and the next move will take the opposite direction as expected.

And of course some money might leave bitcoin and go to the altcoins now with segwit2x.
There is a possible bear flag on the shorter time frame. Im leaning to a move down to 260-220 before a break upwards.
ligand JoshuaVanier
@JoshuaVanier, I agree - a fake breakout to the downside is frequent and always a nice way to trigger some stop loss.
@ligand, Are you aware of the frozen ethereum bug? I do not know how one would factor it into TA though.
ligand JoshuaVanier
@JoshuaVanier, in july there was a similar problem with Parity, although to a lesser extend. If the impact on the chart is similar now or even more intense, I would be glad.
Anyway, personally I agree more to the sentence "the chart makes the news" than vice versa. A view which also much more comfortable for me since I'm not an expert on blockchain. I can't fathom what positive consequences seemingly bad news might have or if it is already priced in.
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