The price may move down initially and bounce at the 1st level breakout zone/support to create a triple top. If the price falls through, there's a high chance that we'll be testing the 2nd level breakout/support.
A major upcoming event is the hardfork scheduled for January 14th.
Will the hardfork be enough to push the price above the ceiling and create a cup?
Once the chart completes a cup shape we'll need to wait for a solid handle formation, a slight regression, then once it breaks above the cup again, we can bet that there will be great opportunities for profit.
We'll need to keep a close eye on the market.
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Ethereum broke past the ceiling and currently sitting above $164. Now's a good entry point. We can expect a slight move down to maybe around $150 initially, but a move up to $190-200 in an Elliott form is highly probable!
$180 is a neckline and if we break through that, we can move up to $190-200 to get closer to finishing the cup.
So $180 is the first long target.