Ethereum 22% Long Confirmation
Ethereum has just repeated its previous pattern and this means the path is now clear to a rise of about 22%.
We can clearly see from the analysis that, over the past three months, ethereum has been moving inside two channels; an inner channel and a main one.
The first time around, a double bottom on the main channel led to a break above the inner channel, a small correction, and then eventually to a top on the main channel. This pattern has been now been reiterated, and with a break above the 0 fib retracement level acting as further consolidation of the pattern, ethereum resumes its pursuit towards the $3000 level.
Let's go!
I have also added a stop loss to the analysis in case the pattern invalidates inself by breaking below previous all-time high set on the 15th of April at $2488.07. Trade safe people!
We can clearly see from the analysis that, over the past three months, ethereum has been moving inside two channels; an inner channel and a main one.
The first time around, a double bottom on the main channel led to a break above the inner channel, a small correction, and then eventually to a top on the main channel. This pattern has been now been reiterated, and with a break above the 0 fib retracement level acting as further consolidation of the pattern, ethereum resumes its pursuit towards the $3000 level.
Let's go!
I have also added a stop loss to the analysis in case the pattern invalidates inself by breaking below previous all-time high set on the 15th of April at $2488.07. Trade safe people!
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