Refer to the chart to view the 3 events or patterns that point to the confirmation of $116 bottom and the long-term uptrend with current Ascending Parallel Channel.
The inverse head and shoulders at 116 bottom leading to breakout from the long-term descending parallel channel since Jun 2019 into forming of the current Ascending Parallel Channel shows a strong reversal bearish to bullish long-term trend.
Just an observation. Please do your own research and analysis too.
Note
ETHUSD is now having resistance at 50% fib retracement. Will it reject or burst through?
Note
ETHUSD is also at the top of the Ascending Parallel Channel + @ 50% Fib Retracement Level
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.