Trader9898

Ethereum Leading All Coins Higher

Long
BITFINEX:ETHUSD   Ethereum
Ethereum and Bitcoin Cash are leading all coins higher, and are showing the trend that Bitcoin will almost certainly follow. Unlike Bitcoin, whose chart is not so clear with the breakout, Ethereum's chart has broken out of the triangle very clearly on multiple chart patterns including the long term trendline support (bottom part of triangle), the top resistance (top of triangle), the ABC correction under Elliot Wave Theory, and others. The bulls decided to "run with it" and are taking it higher. Ethereum will likely take a breather at the next Fib level before continuing higher.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.