ETH Has Formed A Massive Cup & Handle - Possible $2K Target

12 Oca 2021

So after the ascending triangle breakdown we still have hope for a spectacular move up for ETH. If you zoom out to the weekly time frame you will notice that a GIANT cup and handle pattern has formed. We just experienced a classic 30% correction forming the handle portion.

Macro target for profit taking is just above 2K as this will be a quick move over the coming days, as I see a 450B-470B market cap for Alts incoming. Of course we will have to monitor BTC just to make sure it doesn't spoil the fun; however I see BTC hitting $46-47K over the next 4-5 days.

Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.

12 Oca 2021

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Here's an up close view of the handle portion. About a 32% drop from the local high down to the lowest Fib retracement level.