Just broke out,wait for a correction. First target is 260, wait for a correction towards yellow trendline.
Dont chase candles!
Updates will follow on lower timeframe.
Let's see if we get a (small) correction before further up towards 300
Lets see how far before next leg up.
Once pullback is completed, we can determine next target.
We have 2 options right now:
1) It doesnt break top at 304 and retraces back to (C)
2) It goes a bit more up as RSI shows it has short term room to the upside and retraces from the little blue box in top.
Trading advice: wait for further correction to (C) and watch price action there for next leg up or go short if it breaks the trendline. I will update if necessary.
Price hit the target zone and is retracing a bit now. If it breaks the yellow trendline, its very likely to visit the blue box in the bottom of channel what should be a good point to consider adding longs for the run to (5)
I repositioned the targetbox slightly as it became more clear now (B) is in position
Based on RSI + MACD, I'm expecting some more downside. Possible scenario in blue.
Breakout to the upside could be a buysignal, watch priceaction near upper trendline but be carefull as I', still bearish on ETH.
I cant really explain, but I have the feeling it will look for more downside.
Currently in a expanding triangle which is a trend reversal pattern (down)
I'm still bearish, these 2 channels look like an ABC correction for me.
Lowered my target
If it breaks, we might have started a new uptrend already. but not yet convinced.
Remember, it already hit my targetbox so the initial correction is in. I was looking if it can go lower.
You're free to trade and post them, but pls in your own posts. Thanks for understanding.