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JayanVarsani

ETHEREUM - ASCENDING TRIANGLE FORMATION | 61.8 FIBONACCI / 100MA

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Ethereum (INDEX:ETHUSD)  
JayanVarsani  
INDEX:ETHUSD   Ethereum
Trend Analysis Chart Patterns Cryptocurrency crypto Bitcoin (Cryptocurrency) Ethereum (Cryptocurrency) cardano ripple doge elonmusk ETH
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trendanalysis chartpattern cryptocurrency crypto bitcoin ethereum cardano ripple doge elonmusk eth
Analysis
  • Inverse head and shoulders pattern invalidated and now seeking an ascending triangle breakout
  • 100MA serving as resistance turned support on the 4H chart
  • Breakout targeting the 61.8% fibonacci resistance at ~$3400 before retesting the resistance turned support
  • Targeting a multi-week ascending triangle on the macro time-frame, akin to 2017 (see post linked below)
Conclusion: Price about to potentially break out of an ascending triangle. Short term target as the 61.8% fibonacci at ~$3400, mid-term target at close to the ATH at ~$4200

2017 Fractal
snapshot

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JayanVarsani
ETHEREUM - WE REPEATED THIS PATTERN IN 2017! | BOTTOM CONFIRMED?
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