We are breaking out of the low time frame channel (red), which earlier I described to be a bearish retest of the mid term long channel (yellow) and was expecting to go lower with a bearish target of 180$. However ETH looks strong and possibly is breaking out inside the mid time frame channel. I remain in cash for now, but if it reclaims $218 I would be long and wont miss the ride up. Multiple Bullish signals.
Bullish Bias :
- Seeing good volume on Wabbar explosion with multiple buy signals - Bullish divergences on mid and higher time frame - The up trend in not euphoric but steady climb.
Bearish Bias
- Could be a fakeout, a drop below red channel invalidates the bullish outlook
Please like and share if you find value and stay safe homies. Previous posts on ETHUSD in link.
I will be following ETH/USD from a MTA perspective, this is what I have on it
trytofeelpositive
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hi bro,share my analysis with u
Blockchain_Roller_Coaster
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The target would be the top of yellow channel. Depending on when it breaks out the target will get higher with time. Today it points at $275. However a close above $218 is needed to confirm the bullish bias.