The contracting triangle observed on the ETHUSD 4H chart acts as a "continuation pattern" according to Elliott Wave principles.
With the price completing its (A)-(B)-(C)-(D)-(E) sequence, it is set to trigger the next impulsive leg down (Wave v). The Fibonacci 1.618 extension at $1,585.4 represents the ultimate target for this decline and the potential terminal point for the major cyclical correction (4/Z).
Our strategy is to monitor the decline toward this zone and prepare for the massive reversal to follow.
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22 / Feb
Ethereum (ETH) Analysis: Will the Triangle Breakout Lead to $1,500?
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