ETH broke out of corrective pattern

ETHUSD surprised me....I was expecting some more downside on the short term (see link below) as it was in a corrective flat pattern.
But it broke out to the upside and retested the trendline and seems to be heading towards the top of this pennant.

Longer term I'm expecting a break to the upside towards the blue box.
One more corrective leg is still possible, therefore watch priceaction if price nears upper trendline of pennant.

Less is more ;-)

Happy trading!

Yorum:

Hmmmm.....Right after posting this, BTC started dumping and took ETH down. Looks like my previous chart might become valid again