ETHXBT has formed lower highs and higher lows, creating a symmetrical triangle pattern on its 4-hour time frame. Price is currently testing the triangle support and could be prime for a bounce back to the resistance.
However, RSI and stochastic are moving down, suggesting that sellers are in control of ETHXBT price action. This could spur a break below the current support around 0.01900 and a selloff for ethereum. The chart pattern spans 0.01300 to 0.02300 so the resulting breakout could last by the same size.
http://www.forexminute.com/ethxbt-price-technical-analysis-symmetrical-triangle-bounce/
Topic: [2016-08-23] ETHXBT Price Technical Analysis – Symmetrical Triangle Bounce? (Read 259 times)
August 23, 2016, 12:31:45 AM
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