{"id":472775,"date":"2021-09-29T21:00:05","date_gmt":"2021-09-29T21:00:05","guid":{"rendered":"https:\/\/wncen.com\/?p=472775"},"modified":"2024-06-11T11:24:37","modified_gmt":"2024-06-11T11:24:37","slug":"ascending-triangle-ethereum-cycle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ascending-triangle-ethereum-cycle\/","title":{"rendered":"Ascending Triangle Points Ethereum Toward Powerful Potential Climax"},"content":{"rendered":"

The cryptocurrency market is trending bearish<\/a> on the short-term, keeping Bitcoin and Ethereum prices at bay after an enormous Q1 2021 rally. But there is no telling if the bull market is officially over, or if a bounce could materialize into a larger recovery.<\/p>\n

An ascending triangle pattern and long-term trend line could provide a clue as to what might happen next, and it just so happens to match a pattern from the last cycle that took Ether to its bull market peak.<\/p>\n

The Ethereum Fractal That Could Keep The Bull Run Climbing<\/h2>\n

Ethereum’s recent local top set back in April around $4,400<\/a> might not have been the bull cycle peak, according to a potentially bullish structure forming with each retest of support lower.<\/p>\n

Although the ETHUSD trading pair appears rather bearish and sentiment is at extreme fear,<\/a> the altcoin is setting a higher low on daily timeframes and remains more than $1,000 more than lows set only months ago.<\/p>\n

Related Reading | Build Base Or Bust? Bitcoin Touches Down On Parabolic Support<\/a><\/i><\/b><\/p>\n

The structure of higher lows and rising support, capped off by the same resistance level several times, could have painted an ascending triangle<\/a> pattern on the trading pair \u2013 a chart pattern that almost exactly matches a mid-cycle retracement during the last bull run.<\/p>\n

\"ETHUSD_2021-09-29_16-29-16\"Will the ascending triangle pattern produce similar results as last time? | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
All About The Ascending Triangle Pattern<\/h2>\n
An ascending triangle<\/a> is a bullish chart pattern that can either appear at the bottom of a trend as a reversal, or at the mid-point of a trend as a continuation pattern. When these bullish patterns breakdown instead, the fake out can be deadly.<\/p>\n
But if support holds and resistance is taken, a large move to the upside occurs. An ascending triangle pattern is what put in the Bitcoin bear market bottom<\/a>, and it was also the last pattern crypto traders saw before Ethereum soared from $380 to $1,400.<\/p>\n
Related Reading | Why Bitcoin Bears Might Not Get To Buy New Lows<\/a><\/i><\/b><\/p>\n
$380 remained a key resistance level all throughout the bear market, and a retest of the level is what sent the cryptocurrency flying to $4,400 this most recent time. The target of this structure based on the measure move would result in nearly $10,000 per ETH, but another tap of the trend line that caused the last peak, adds another $4,000 to that target.<\/p>\n
But this is all predicated on the bottom ascending trend line holding, and an eventual break of resistance following. Without the confirmation, the pattern will be invalidated, which could result in a much steeper drop instead.<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or via <\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a>. Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The cryptocurrency market is trending bearish on the short-term, keeping Bitcoin and Ethereum prices at bay after an enormous Q1 2021 rally. But there is no telling if the bull market is officially over, or if a bounce could materialize into a larger recovery. An ascending triangle pattern and long-term trend line could provide a clue as to what might happen next, and it just so happens to match a pattern from the last cycle that took Ether to its bull market peak. The Ethereum Fractal That Could Keep The Bull Run Climbing Ethereum’s recent local top set back in April around $4,400 might not have been the bull cycle peak, according to a potentially bullish structure forming with each retest of support lower. Although the ETHUSD trading pair appears rather bearish and sentiment is at extreme fear, the altcoin is setting a higher low on daily timeframes and remains more than $1,000 more than lows set only months ago. Related Reading | Build Base Or Bust? Bitcoin Touches Down On Parabolic Support The structure of higher lows and rising support, capped off by the same resistance level several times, could have painted an ascending triangle pattern on the trading pair \u2013 a chart pattern that almost exactly matches a mid-cycle retracement during the last bull run. Will the ascending triangle pattern produce similar results as last time? | Source: ETHUSD on TradingView.com All About The Ascending Triangle Pattern An ascending triangle is a bullish chart pattern that can either appear at the bottom of a trend as a reversal, or at the mid-point of a trend as a continuation pattern. When these bullish patterns breakdown instead, the fake out can be deadly. But if support holds and resistance is taken, a large move to the upside occurs. An ascending triangle pattern is what put in the Bitcoin bear market bottom, and it was also the last pattern crypto traders saw before Ethereum soared from $380 to $1,400. Related Reading | Why Bitcoin Bears Might Not Get To Buy New Lows $380 remained a key resistance level all throughout the bear market, and a retest of the level is what sent the cryptocurrency flying to $4,400 this most recent time. The target of this structure based on the measure move would result in nearly $10,000 per ETH, but another tap of the trend line that caused the last peak, adds another $4,000 to that target. But this is all predicated on the bottom ascending trend line holding, and an eventual break of resistance following. Without the confirmation, the pattern will be invalidated, which could result in a much steeper drop instead. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":472778,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,65296,4854,1946,8686,78803],"class_list":["post-472775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethbtc","tag-ether","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nAscending Triangle Points Ethereum Toward Powerful Potential Climax<\/title>\n<meta name=\"description\" content=\"The cryptocurrency market is trending bearish on the short-term, keeping Bitcoin and Ethereum prices at bay after an enormous Q1 2021 rally. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ascending Triangle Points Ethereum Toward Powerful Potential Climax","url":"http:\/\/wncen.com\/news\/ethereum\/ascending-triangle-ethereum-cycle\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ascending-triangle-ethereum-cycle\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/ethereum-ascending-triangle-iStock-1321987746.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/ethereum-ascending-triangle-iStock-1321987746.jpeg?fit=1322%2C793"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethbtc","ether","ethereum","ethusd","ethusdt"],"dateCreated":"2021-09-29T21:00:05Z","datePublished":"2021-09-29T21:00:05Z","dateModified":"2024-06-11T11:24:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ascending Triangle Points Ethereum Toward Powerful Potential Climax\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ascending-triangle-ethereum-cycle\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ascending-triangle-ethereum-cycle\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/ethereum-ascending-triangle-iStock-1321987746.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/ethereum-ascending-triangle-iStock-1321987746.jpeg?fit=1322%2C793\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethbtc\",\"ether\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2021-09-29T21:00:05Z\",\"datePublished\":\"2021-09-29T21:00:05Z\",\"dateModified\":\"2024-06-11T11:24:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/ethereum-ascending-triangle-iStock-1321987746.jpeg?fit=1322%2C793","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=472775"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/472775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/472778"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=472775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=472775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=472775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}