Eboard10
Long

Ethereum - Bullish Ascending Triangle Shaping Up

POLONIEX:ETHUSDT   Ethereum / Tether USD
ETHUSD has been moving sideways during the last couple of months. In my previous post (link below) I proposed a few scenarios that would see us either move down to below the July $140 low, or move to new highs. Given the current pattern, it looks like Ethereum has decided to take the 'in-between' option, shaping up as an ascending triangle which is usually followed by a very strong move higher.

My current expectation is for ETHUSD to continue trending in the triangle pattern for another few weeks before making a stronger push above $400 that will eventually take it to at least $1000. A break below $140 would invalidate this move and make the red alternative the most likely count, however, that is not my primary expectation atm.
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