Crypto_Ed

ETH broke out of corrective pattern

Long
BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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!
Comment: Hmmmm.....Right after posting this, BTC started dumping and took ETH down. Looks like my previous chart might become valid again

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