ETHEREUM - 8/4/2017 Price Update

Ethereum seems to be locked into its ascending triangle shape. The next few days should be very interesting since $231 has bee major resistance the past few weeks. On July 24th, Ethereum fell out of it's ascending triangle shape but at the moment it's converging into the apex of a bigger ascending triangle formed back at it's $130 low. In theory this is a bullish pattern so in the next few days we should have confirmation if this indeed will lead to a bullish breakout or not. If not, $231 will again be a major source of resistance and another failure at it. If failure happens once again, I don't see any reason for the price not to fall from this current consolidation zone and make another leg lower.