$ETH - Today's update...

$ETH - Today's update...
Ethereum / US Dollar Perpetual Quanto Swap Contract BITMEX:ETHUSD
Trader-Elisa

#ETH #UPDATE - As before, looks stronger than BTC , making more pronounced HLs , respecting trend, and has now formed into a symmetrical triangle.

An inside bar failure pattern on the 4h suggests we should at least test a bit lower at 174.20. However an equivalent on the daily a few days ago would suggest we test 181.85. (Although I haven't backtested reliability of this pattern on ETH)

Price remains non-impulsive on the up moves, and continues to respect bear ranges over bull although with growing indecision. However if BTC takes this down, at this stage I don't expect it to take out the recent lows even though my long term outlook below 186.50 is very bearish .