{"id":430528,"date":"2022-04-12T17:45:00","date_gmt":"2022-04-12T14:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\/"},"modified":"2022-04-12T17:45:00","modified_gmt":"2022-04-12T14:45:00","slug":"ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\/","title":{"rendered":"# Ethereum price &#8216;bullish triangle&#8217; puts 4-year highs vs. Bitcoin within reach"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c20979f396\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c20979f396\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\/#%E2%80%9D_Ethereum_price_%E2%80%98bullish_triangle_puts_4-year_highs_vs_Bitcoin_within_reach_%E2%80%9C\" >&#8221; Ethereum price &#8216;bullish triangle&#8217; puts 4-year highs vs. Bitcoin within reach &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\/#ETHBTC_triangle_breakout\" >ETH\/BTC triangle breakout<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\/#The_bearish_reversal_scenario\" >The bearish reversal scenario<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_price_%E2%80%98bullish_triangle_puts_4-year_highs_vs_Bitcoin_within_reach_%E2%80%9C\"><\/span>&#8221; Ethereum price &#8216;bullish triangle&#8217; puts 4-year highs vs. Bitcoin within reach &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Ethereum&#8217;s native token Ether (ETH) has dropped about 17% against the U.S. dollar in the last two weeks. But its performance against Bitcoin (BTC) has been less painful with the ETH\/BTC pair down 4.5% over the same period.<\/p>\n<p>The pair&#8217;s down-move <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears as both ETH\/USD and BTC\/USD drop nearly in lockstep while reacting to the Federal Reserve&#8217;s potential to hike rates by 50 basis points and slash its balance sheet by $95 billion per month. <\/p>\n<p>The latest numbers released on April 12\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">show<\/a>\u00a0that consumer prices rose 8.5% in March, the most since 1981.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/0c9ed766-4aad-4609-9249-854c541d05f7.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. ETH\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"ETHBTC_triangle_breakout\"><\/span>ETH\/BTC triangle breakout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several technicals remain bullish despite ETH\/BTC dropping in the last two weeks. Based on a classic continuation pattern, the pair still looks poised to resume its strong bull run in 2022.<\/p>\n<p>Notably, ETH\/BTC has corrected from a horizontal resistance level that constitutes an ascending triangle\u00a0range in conjunction with rising trendline support. <\/p>\n<p>As a rule, ascending triangles send the price in the direction of their previous trends. Therefore, since ETH\/BTC was rallying before forming one, there&#8217;s a decent chance its bull run could continue toward its Feb. 2018 highs near 0.1 BTC, based on the setup shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/6ea788ea-a8f5-46e0-8cc5-43328a5687ae.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC weekly price chart featuring ascending triangle setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Nonetheless, the interim market setup looks skewed to the downside, with ETH\/BTC eyeing a correction towards the triangle&#8217;s lower trendline following its pullback from the upper trendline. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_bearish_reversal_scenario\"><\/span>The bearish reversal scenario<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ascending triangle breakouts <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/samuraitradingacademy.com\/7-best-price-action-patterns\/\">reach<\/a> their upside targets nearly 73% of all time, a study by Samurai Trading Academy shows. <\/p>\n<p>In a separate report, veteran investor Tom\u00a0Bulkowski also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thepatternsite.com\/at.html\">highlights<\/a> a 70% success rate for ascending triangles, thus underscoring the strong possibility for Ether to reach 0.10 BTC in 2022.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin claws back $40K as 24-hour crypto liquidations near $500M<\/em><\/strong><\/p>\n<p>Nonetheless, this still leaves ETH\/BTC with a 30% chance to invalidate its ascending triangle setup.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/5e09e353-9c5b-4b36-99ac-5f9d4c6f2791.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>As it happens, the pair will break below its triangle&#8217;s lower trendline, which also coincides with its 50-week exponential moving average (the red wave in the chart above) near 0.06 BTC, opening the door for a further drop to 0.05 BTC, a support area from May-June 2021.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-price-bullish-triangle-puts-4-year-highs-vs-bitcoin-within-reach\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum price &#8216;bullish triangle&#8217; puts 4-year highs vs. Bitcoin within reach &#8220; Ethereum&#8217;s native token Ether (ETH) has dropped about 17% against the U.S. dollar in the last two weeks. But its performance against Bitcoin (BTC) has been less painful with the ETH\/BTC pair down 4.5% over the same period. The pair&#8217;s down-move appears&#8230;<\/p>\n","protected":false},"author":1,"featured_media":430529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTlkZTJjNWEtMmExNy00OGEwLTk4M2MtNDRmOTI0ZTVlZjBjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82402,74891,75326,74938,74939,112089,78261,70550,70551,70552,73785],"class_list":["post-430528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-market-analysis","tag-quantitative-easing","tag-tech-analysis","tag-federal-reserve","tag-inflation","tag-interest-rates","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=430528"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/430529"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=430528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=430528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=430528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}