It's a trap..possibly. We've seen a nice move up over the last two days in ETHUSD
, but we're at a point where I think we could either see a test (or possible new highs at the extension around 208 and some change) or completing the sloppy head and shoulders
taking us back down to around 141. I'll be keeping an eye on things on the 195 minute chart. With the Squeeze losing momentum (indicated with the dark blue bar), I'm currently leaning towards the latter for now.