A triangle formatin is not predictive, it just allows you to visualize the price action and then trade based on a breakout of the consolidation. ETH is as likely to breakout higher as it is to breakout lower so if you want to trade today based on the patter then it is simply a guess. If you wait for it to breakout to confirm price action than you can have a higher probability of being correct. So for right now... let's wait and see since world events are driving current price volatility.
The current environment is a big test of the crypto boosters' claims. If BTC/ETH are safe havens against war, inflation, capital controls, confiscation/expropriation etc. they ought to be moving higher - as are gold and the USD. If they're just speculative footballs with a strong positive correlation to liquidity and investor risk tolerance (and thus also to NQ, junk bonds, ARKK, etc.) then they can be expected to trend lower for at least the next year or so, possibly much lower. Nobody knows where the bottom might be, though the worst case scenario would be to return to 2020's prevailing levels of <$10k BTC and <$400 ETH.
That would be a very good buying opportunity. I'd definitely buy more btc's at less than $!0k each to hodl for long term
Pet Rock®, Pokémon®, the yo-yo and Beanie Babies®, remember Beer Cans, belt buckles, America loves fads. I did well selling short Enron and now Bitcoin, but many commodities are shorts as well.
Shorting Bitcoin/Ethereum when we are only a few months away from the 'merge' is almost like trying to win a darwinian award. It is very dubious at best. Why is my bullshit detector ringing right now?
There's a possibility eth goes under $2k but I feel it would be like a dump and wick as very fast buying will prop the price back up again. There were people hoping for btc under $2k and even $1k back then. Didn't happen.