johninvest17

Go Long, Ethereum looking very close to breaking out $ETH

Long
BITSTAMP:ETHUSD   Ethereum
Ethereum looking very close to breaking out..

Currently, chart patterns are forming a very nice "inverse head and shoulders" and a triangle.
Technical indicators such as RSI and DMI are trending up, similar to the short term moving averages (20, 50). This is good for the bulls.

Therefore, I think we would likely see $ETH breaking out to the upside instead of the downside.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.