ETH/USDT – Ascending channel. Breakdown below support?

3月16日

Ethereum - is a smart contract platform that allows developers to build decentralized applications (DApps) on its blockchain.

CoinMarketCap: #2

↗️ Ethereum is moving within an ascending channel, and the bullish trend remains intact.
Inside the channel, there are two triangles.
The first triangle, with a base of 88%, has played out—its third wave broke through the triangle.
Liquidity grabs and shakeouts before the growth in the inner channel zones are marked with yellow circles.
Currently, we see a mirrored situation with a new triangle, this time with a 156% base. However, if this pattern plays out, it will break the ascending channel.

At the moment, the price has been dragged below the channel support, and there is a lot of negative sentiment in the news and opinions. Few believe in an upward move, and many have been liquidated. To me, this looks like a strong trigger.
⤵️The bearish scenario implies a -61% drop. (A less likely scenario.)

I've marked everything on the chart—consider this in your trading strategy. Remember, there's a lot of negativity around Ethereum, just like with all altcoins...
I also believe that on the monthly chart, it will end up being just a wick of the candle.

昨天

交易進行

After the trading idea was published, Ethereum followed the bearish scenario. It reached the marked downside target of -14.30% and held the $1615 zone (green horizontal dashed line).
The price is moving within a small descending channel. It’s now at a key inflection point near the resistance of this local channel.
If it breaks through and consolidates above, a return to the larger primary ascending trend channel is possible.
Everything has been updated on the chart, including the targets.

On the monthly chart, this could actually turn out to be a solid shakeout of weak hands below the support of the monthly triangle - with a possible move toward the $15,000 area)))
A large monthly wick has been left behind.
It’s always better to lock in profits in parts during a trend, and leave only a small % of coins for the moonshot targets (but that’s just my personal approach).
Here’s the chart I’m referring to: