ETH: WAIT FOR THIS BEFORE OPENING A LONG POSITION!!

Hello everyone, if you like the idea, do not forget to support it with a like and follow.

Welcome to this ETH update.

Whole market gives a nice rally and currently both BTC and ETH are at resistance so either wait for a break above the resistance or a good correction for opening any new long position. If you are holding some longs then IMO you should book some profit here.

Now let's get to the chart.

As you see, ETH is forming a symmetrical triangle in the daily time frame and currently it is testing the upper trendline of the triangle. So from here we have two scenarios.

One is ETH breaks out from this triangle and gives a multi month bullish rally.

Second one is we reject from here and once again go for testing the lower trendline of the triangle.

For both the scenarios, we have to wait for a daily close here. Hope it breaks out from the triangle and gives us a bullish rally from here.

Let's see what happens. If you like this idea then do support it with like and follow.

Also, share your views in the comment section.

Thank You!