ETHEREUM, Develops MASSIVE Triangle, BULL BREAKOUT More Likely!

Hello,

Welcome to this analysis about Ethereum and the 2-day timeframe perspectives. Ethereum in the recent times developed important structures especially with a bullish edge and in this case on the more global timeframe perspectives I discovered a major important formational structure on which Ethereum can build up and continue with a decisive breakout. Therefore, as when looking at my chart we can watch there how Ethereum has now formed this huge triangle-formation marked with the boundaries in blue, in this triangle-formation Ethereum has a coherent wave-count with the waves A to C already completed and with the wave D currently in the development to follow up with the wave E after it. Once the wave E has finalized this will be the completion of the whole wave-count after which the final breakout will emerge. As Ethereum is now still strongly holding above the 50-EMA in red as well as the 25-EMA in green a bullish breakout, in any case, is more likely than the bearish one, in a concrete sense the bullish breakout has a higher possibility of 75% compared to the bearish one of 25% this is a lot, all most three times more. Therefore it will be important on how Ethereum finalizes the triangle here and how the final breakout can emerge, when these informations and price-action-developments are given further assessments can be made.

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Information provided is only educational and should not be used to take action in the markets.