ETH | C&H | $8k+++☕The C&H Pattern With a Little Tilt to It💧
This chart showcases how we can grab forecasted targets using chart patterns similarly to my other postings and how we can use these patterns to our convictions
BITSTAMP:ETHUSD is currently still trading within the falling wedge pattern and will play a big role into being the cause of the C&H breakout
As shown on the chart we can see the main trendline target in orange somewhat lines up with fib extension and C&H trajected target which creates a great confluence in forecasting what's next to come
After price makes it's way to breakout at the upper trendline we should see a push towards $4,800 in the acts of a Pullback Trigger and Not Permanent Resistance
Price action doesn't go in a straight line forever so we'd have to see a cool off period retesting atop from the breakout (SnR) for a second point contact to launch price further, the first point contact is where we are now, and by adding a SMA or EMA this will allow for optimal accumulating zones
The red squares are the major and minor pivot points to calculate the levels for the Fibonacci extensions and also line up with Fib Channel which was measured from the base structure (main trendline in orange).
Follow to stay tuned on what price action will do next after this hopefully plays out🚀
