ETHUSD: New Structure High & Important Breakout, What is Next?
Updated
hey traders,
After a nice bullish accumulation within an ascending triangle formation,
ethereum finally managed to break and close above 1445 structure resistance.
With that breakout, the price set a new all times higher high higher close.
If you missed a long entry, consider the narrowing area between a broken horizontal structure and rising trend line.
that is our local demand zone and safe point to buy from.
Concerning the next goal for buyers, I have projected the range of the ascending triangle.
I took the strongest impulse leg within that and projected it from a broken structure.
It perfectly points to the 2000 level. It is a nice psychological round number as well.
Also, please consider 1712 level. It is just the middle of the projected impulse leg,
based on my experience I noticed that it matters as well.
Good luck!
Note
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