This is a monthly chart of ETH highlighting the rate of change in the slope of the trend from bull run to bull run. While still very bullish on ETH the rate at which the trend is exausting can serve as a useful tool in forcasting "potential" targets in the future.
Looking at the two previous bull runs we can see the first run was 70 second 60 and forcasting third will be 50. The specific degree doesn't matter it is the equal spacing from run to run of 10 degrees.
Following the slope of 50 degrees for the current run to the 1.5-1.618 golden zone we see a tight correlation with the momentum curve and potential macro rising wedge line.
Current Trading Plan:
Trade the trend until there is a major brake of structure to indicate a change of trend prior to the target area of 10-14k
Looking at the two previous bull runs we can see the first run was 70 second 60 and forcasting third will be 50. The specific degree doesn't matter it is the equal spacing from run to run of 10 degrees.
Following the slope of 50 degrees for the current run to the 1.5-1.618 golden zone we see a tight correlation with the momentum curve and potential macro rising wedge line.
Current Trading Plan:
Trade the trend until there is a major brake of structure to indicate a change of trend prior to the target area of 10-14k
Comment:
trading view auto adusted the screen ratio changing the degrees from 70 60 50 to something else but the difference of 10 degrees from run to run is what is used for the current runs slope