looks like a XABCD probably a BAT pattern is forming still too early to say but indicators r going for it here if they fail tho and break higher high pattern on MACD lines not histogram but that is never great either rsi trying to get into bullish zone, worth a trade here scale in tho just incase we go back to 2150 area u dont want to sell or stop out give it room...
XABCD stf going on started new impulse starting a new structure, broke out of downtrend just need a retest in area of trendline where wave 2 ends macd rsi and stoch's look good, if we close daily candle below the red downward trendline then i exit the trade. take profits at least some in between A and C (of the XABCD). or use fibs from A to D and target 0.50 0.618...
update 2: very nice double bottom on ETH/BTC, fib confluence at 0.618. trend on ETHUSD is pretty obvious and this will really pump ETH to my target of 2400- this month. we are confirming the old resistance into support wud confirm the DBottom.
we are trying to retest and hold for breakout to be confirmed and take off, should on watch set your alerts as this could be start of reversal for ETH to the upside, indicators still showing strength building
built a really nice base after a 0.618 retracement and now breaking out of a falling wedge plus we got bull divergence on rsi and histogram and macd and signal lines too. if we make a lower high and confirm this falling wedge and a 1hr trend change, very low risk setup here even with btc dropping if u just trade btc pairing. but btc and eth r still in macro...
It looks like we are forming a nice cup and handle on SPY, and long as we keep above 30% retrace on cups's handle we will get a bull break. Lets go spy bulls