ETHUSD $600 Long Target
Earlier this month Ethereum formed the notoriously bearish triple top pattern and was looking like it could come back down and retouch the $470 support level.
Then I didd some investigating into bigger timeframes and realized that ETH hasn't came back down to touch a single level of support since $234 and it doesn't have to in a bull market.
All the talk about the $470 was invalidated after ETH created that higher lower and never saw a close underneath this uptrend. From there, it was squeezed lower until it couldn't possibly drop any lower and then rocketed upwards past $556 and out of the wedge.
From this close out above $556 we can expect to see a weekly close above the $556 level indicating the continuation of this bull market going long towards $600 and beyond.
TP1 🎯$600
TP2 🎯 $617
Thank you 🙏 Cheers 🥂
Then I didd some investigating into bigger timeframes and realized that ETH hasn't came back down to touch a single level of support since $234 and it doesn't have to in a bull market.
All the talk about the $470 was invalidated after ETH created that higher lower and never saw a close underneath this uptrend. From there, it was squeezed lower until it couldn't possibly drop any lower and then rocketed upwards past $556 and out of the wedge.
From this close out above $556 we can expect to see a weekly close above the $556 level indicating the continuation of this bull market going long towards $600 and beyond.
TP1 🎯$600
TP2 🎯 $617
Thank you 🙏 Cheers 🥂
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