Key points supporting further up-moves - Bullish view
ETH/USD broke uptrend line from All-Time-High ATH 1,424, from a pennant chart pattern.
A pennant is a bullish continuation pattern.
If we take the breakout point and add the size of the pennant, the target price is approximately 1738.
To achieve this ETH/USD must re-test previous ATH
And most important with supporting daily volume increase.
Key points supporting further correction - Bearish view
Pennant break out day not with high volume.
As long as up moves not supported by increasing volume, we remain cautious
Position sizing in key in this trading scenario.
Now, over to you, what's your view on ETH/USD?
ETH/USD broke uptrend line from All-Time-High ATH 1,424, from a pennant chart pattern.
A pennant is a bullish continuation pattern.
If we take the breakout point and add the size of the pennant, the target price is approximately 1738.
To achieve this ETH/USD must re-test previous ATH
And most important with supporting daily volume increase.
Key points supporting further correction - Bearish view
Pennant break out day not with high volume.
As long as up moves not supported by increasing volume, we remain cautious
Position sizing in key in this trading scenario.
Now, over to you, what's your view on ETH/USD?