ETH Triangle Break Out, Fake or Long Term, Part 2
Part of my previous analysis:
Short term, as mentioned in my BTC' analysis, i think the market will go sideways this weekend, making an ABC correction. So maybe a bit lower, towards 161/162 and than up towards 169/173 and than one more drop in the 150/160 zone. Can't say i am very sure about this ABC , but it's my short term view for ETH now and don't have anything else that would make more sense. Maybe the wedge on the right is a plan B.
This played out pretty decent if i may say so myself :). It bounced up from the 156 quite well at first, but that past few hours the move up has slowed down again. Increasing the chances the move (correction) down has not been completed yet. I have drawn a new wedge on the right, which would be the perfect outcome for everything. Breaking the 160/155 of what looks like the neckline of an H&S, but while doing that fooling all the bears playing that H&S and then using their shorts as fuel to create a good push upwards.
For all the other important scenario's and levels, please read the previous analysis:
Short term, as mentioned in my BTC' analysis, i think the market will go sideways this weekend, making an ABC correction. So maybe a bit lower, towards 161/162 and than up towards 169/173 and than one more drop in the 150/160 zone. Can't say i am very sure about this ABC , but it's my short term view for ETH now and don't have anything else that would make more sense. Maybe the wedge on the right is a plan B.
This played out pretty decent if i may say so myself :). It bounced up from the 156 quite well at first, but that past few hours the move up has slowed down again. Increasing the chances the move (correction) down has not been completed yet. I have drawn a new wedge on the right, which would be the perfect outcome for everything. Breaking the 160/155 of what looks like the neckline of an H&S, but while doing that fooling all the bears playing that H&S and then using their shorts as fuel to create a good push upwards.
For all the other important scenario's and levels, please read the previous analysis:
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