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.
I'm also leaning to a drop soon. I don't known how substantial it will be, possibly 160 or 150 where I'll definitely rebuy. Market is quiet since most are asleep....Asia opens in 3 hours or so, so we'll see. The strength of the recovery has absolutely been stunning, some analysts even predicted a drop to 90. I'm opening a few long term orders when it drops because this has incredible momentum.