$ETH / USD Falling wedge Forming.. Set for massive upside.
Hello Traders,
Setting up a chart for the next couple of weeks, I believe we are in the process of currently forming a falling wedge pattern on the daily. We have strong support in the $3300 - $3000 range. A lot of buying pressure is sitting down there, just waiting.
On-chain metrics have been showing strong whale purchases over the last couple of months, with most recently 210k taken off exchanges at 2 AM this morning. Specifically, one whale/ institution that took 196k Ethereum off of Coinbase.
As we make our way out of Recktember into Fall, we'll likely start to see these accumulations take form on the charts with strong upside potential.
Right now, Bulls have been battling the Bears to reclaim May's ATH ($4300+/-) and our local high ($4000+/-). This should continue to play resistance until Mid-October.
It's been one hell of a year for the markets but I don't see this fizzling out just yet and hopium or not, my "Macro Sight" is set on the $9k - $14k region by March 2022.
Good Luck.
Setting up a chart for the next couple of weeks, I believe we are in the process of currently forming a falling wedge pattern on the daily. We have strong support in the $3300 - $3000 range. A lot of buying pressure is sitting down there, just waiting.
On-chain metrics have been showing strong whale purchases over the last couple of months, with most recently 210k taken off exchanges at 2 AM this morning. Specifically, one whale/ institution that took 196k Ethereum off of Coinbase.
As we make our way out of Recktember into Fall, we'll likely start to see these accumulations take form on the charts with strong upside potential.
Right now, Bulls have been battling the Bears to reclaim May's ATH ($4300+/-) and our local high ($4000+/-). This should continue to play resistance until Mid-October.
It's been one hell of a year for the markets but I don't see this fizzling out just yet and hopium or not, my "Macro Sight" is set on the $9k - $14k region by March 2022.
Good Luck.