kg_sol

Eth bullish and bearish trade setup

BITFINEX:ETHUSD   Ethereum
Eth appears to be consolidating in a symmetrical triangle pattern. I expect the consolidation to continue until the 3rd or 4th of March. I’m leaning towards the bullish case scenario considering we are in a bull market but wouldn’t be surprised if we broke down and continued the correction for another week. The immediate targets following a breakout to the upside are around $1900 after which I would assume a small consolidation to take place for a couple days. If however we break to the downside my target would be around 1175 which is the .5 fib retracement. I would expect a large and quick bounce from this level so have your orders already set if this is the case.

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