ETH/BTC: 4hr symmetrical triangle coming to a critical point

[dragonvslinux]

A heads up for anyone paying attention, ETH/BTC is due a break-out with a symmetrical triangle coming to a critical point. Price is currently sitting on the VPVR point of control:



While symmetrical triangles are considered continuation patterns, the resistance trend-line of this 4hr symmetrical triangle is additionally strong long-term resistance, not to be underestimated, as this trend-line has been well-respected for 18 months with multiple touch-points:



Breaking to the upside could signal a bearish to bullish trend-change, if the 0.786 fib retracement level is additionally breached, while a break downwards would confirm the long-term resistance trend of lower lows and close to confirming a descending triangle pattern that would target new lows if price breaks below 0.02 BTC.

[dragonvslinux]

A heads up for anyone paying attention, ETH/BTC is due a break-out with a symmetrical triangle coming to a critical point. Price is currently sitting on the VPVR point of control:



While symmetrical triangles are considered continuation patterns, the resistance trend-line of this 4hr symmetrical triangle is additionally strong long-term resistance, not to be underestimated, as this trend-line has been well-respected for 18 months with multiple touch-points:

And there you have it, the breakdown from the symmetrical triangle from the strong long-term resistance trend-line:



This has additionally wiped out the longer-term support trend-line that others had identified and were eyeing up as possible support:



The longer term target of this breakdown would be around 0.0205-0.021 BTC, although is likely to bounce off the 200 Day MA & VPVR POC before falling lower: