ETHUSD - Wedge & triangle 01/10/21

As it stands, we have 2 breakouts in 1 - fairly similar to the structure BTC has had for the past couple of days. Not expecting a massive move here just yet, as historically in this time of the year, it's BTC that takes the reins (ETHBTC tends to trend down at the start of Q4 before continuing its run). ETH is expected to rise in accordance with BTC but we SHOULD see its real run from late December / January onwards.

On the 1D chart, we also have a three green soldier candle pattern, giving a strong signal of potential reversal. The aggregated volumes match the PA:

There is also a potential cup & handle pattern coming into play:

Technicals:

• Perfect measured move ABC correction.
  
• Double breakout of wedge & triangle.
  
• Large capitulation volume candle (yellow) marked the low, with generally high volume inside the triangle/range.
  
• RSI crossed into the bullish control zone with a high positive slope (strong momentum).
  
• BBWP bottomed with the previous local higher low, and is now crossing above the average - volatility is increasing with the uptrend.
  

Pattern measured price targets:
Triangle - 13.72% / 3613 - 70% meet price target in a bull market.
Wedge - 21.32% / 3855 - 62% meet price target in a bull market.

(These statistics are based on successful breakouts.)

Comment:

As you can see on the 1D chart images, the RSI also has a massively positive slope (indicating strong bullish momentum), and the daily BBWP also remains increasing slowly but holding above the average (ideal for there to be room to grow - we don't want the volatility to increase that quickly, but rather a slow grind up before a real burst).

Comment:

ETHBTC in Q4

Comment:

Adding for AGGR VOL use case: Bottom catching using volume as confirmation.