Greetings crypto enthusiasts, traders, and other beautiful people who found this chart.
I'm sharing a new development on the ETHUSD weekly chart, and where price is saying it wants to go from here - it wants to retest the ATH by summer.
The red arc that had been playing out since June 2021 has been broken definitively to the upside, pointed at with the grey arrow. This is good news for bulls and shifts the probable outcome towards a fast move up towards the top of the range.
I've drawn a possible green arc that has bottomed, that would bring it back to the all time high in the next few months. That green arc still hasn't found a definitive arc wall on the right side, so it can be stretched back and forth a few weeks in ether way from where I drew it and still be valid. If there is a retest and bounce, that would be a clear arc wall point and give us a clearer date range. My conviction in that green arc is only medium until it gives us a clear right wall touch point.
The main message the chart is showing me is that the next few months will probably be bullish, and to hold on to my stack. If you like Ethereum and think the transition to PoS in Q2 2022 will be very successful, you should be buying dips and holding on for a new ATH.
Enjoy.
I'm sharing a new development on the ETHUSD weekly chart, and where price is saying it wants to go from here - it wants to retest the ATH by summer.
The red arc that had been playing out since June 2021 has been broken definitively to the upside, pointed at with the grey arrow. This is good news for bulls and shifts the probable outcome towards a fast move up towards the top of the range.
I've drawn a possible green arc that has bottomed, that would bring it back to the all time high in the next few months. That green arc still hasn't found a definitive arc wall on the right side, so it can be stretched back and forth a few weeks in ether way from where I drew it and still be valid. If there is a retest and bounce, that would be a clear arc wall point and give us a clearer date range. My conviction in that green arc is only medium until it gives us a clear right wall touch point.
The main message the chart is showing me is that the next few months will probably be bullish, and to hold on to my stack. If you like Ethereum and think the transition to PoS in Q2 2022 will be very successful, you should be buying dips and holding on for a new ATH.
Enjoy.