After a long consolidation period where I have made many successful day trades between the buy channel(green) or dark green line and selling the dark red line or red channel depending in price action, we have finally broken out. I am left with a small position in ETH in which I am currently long. However, this too is short term, and we will see reaction to price action at previous high of 355. If we break this resistance then we can add to our position. Target 1 would be top red line which is resistance from the first top at 420, where we would reassess. This is just analysis and not entry into a LONG trade if you were not already in. We can go back into Green channel in which case I would add to position. Otherwise we wait for price action at 350-355. I am bullish on ETH in the future, however there is no great swing trade setup yet that I see for people trying to enter into the position now. Will post new analysis, once we break or get rejected by 355.
