ETH Ascending Triangle: Long Setup

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Ethereum is in an ascending structure, pulling back toward trendline support with clear resistance around 3,400 USD, offering a potential long setup with defined invalidation and targets.

Trade direction

• Long, buying the dip into the rising trendline / lower Bollinger area, aiming for another test of 3,400 resistance.

• Structure: Higher lows since November, forming an ascending triangle against the 3,400 horizontal cap.

Entry and invalidation

• Potential entry zone:

• $2,950–$3,050, near the blue trendline and mid-to-lower Bollinger band.

• Invalidation:

• Below $2,850, which would break the rising trendline and recent swing low structure.

Take‑profit levels

• TP1: $3,180–$3,200 (prior local resistance and Bollinger midline); consider taking partial profits and moving stop to breakeven.

• TP2: $3,400 major resistance; main target of the pattern.

Trade management

• If price closes a daily candle below the trendline and 2,850, treat the idea as invalid and stand aside.

[bonk]

btc under 90,600 = short bias until proven otherwise. well-defined zones + structural analysis = prime entries for disciplined traders