Ethereum / Tether USDUpdated ETH day traders will have their fingers on the trigger.
So my upside patterns from yesterday seem to have been defeated by overhead resistance at $850.
Today we have formed a bullish pennant consolidation which should show its real hand soon.
A break above should yield a target along the flagpole breaking the $850 resistance and making a great higher high
A break to the downside can be expected go as far at the head and shoulders pattern neckline target and find support, which would make a nice lower high in this market.
If there is no support around $600 then the Bears have won the market again and we could be heading far lower.
Today we have formed a bullish pennant consolidation which should show its real hand soon.
A break above should yield a target along the flagpole breaking the $850 resistance and making a great higher high
A break to the downside can be expected go as far at the head and shoulders pattern neckline target and find support, which would make a nice lower high in this market.
If there is no support around $600 then the Bears have won the market again and we could be heading far lower.
Note
The Bulls look to be winning this market. New higher highs and higher lows. Next major resistance is a $1000
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Disclaimer
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.