Key points supporting further up-moves - Bullish view
ETH/USD broke uptrend line from All-Time-High ATH 1,424, from a pennant chart pattern. A pennant is a bullish continuation pattern. If we take the breakout point and add the size of the pennant, the target price is approximately 1738. To achieve this ETH/USD must re-test previous ATH And most important with supporting daily volume increase. Key points supporting further correction - Bearish view
Pennant break out day not with high volume. As long as up moves not supported by increasing volume, we remain cautious Position sizing in key in this trading scenario. Now, over to you, what's your view on ETH/USD?
I have a very similar outlook. We need some volume to come in to confirm the breakout...that said, we are making higher highs and higher lows on the hourly. Let's see what the market has to say. I've got a strong suspicion that we re-test the high. ETH has been relatively strong throughout this correction so let's see...