Today I'd like to update you on the I shared not too long ago (see below). I expected a breakout before the first of June.
In between now and then, the triangle has broken down to the downside and reclaimed it. In doing so, it printed an pattern on both the daily and 4hr charts (see below). Using conservative methods, we measure the top of the lowest reaching candle in the head of the iH&S to the neckline. With the iH&S neckline at $217 and the height of the head measuring $30, I think a $247 per COINBASE:ETHUSD target is reasonable.
In printing and validating the iH&S however, COINBASE:ETHUSD has also broken out of the to the upside. Essentially, we're seeing 2 formations happening on two different timeframes.
Combine this with COINBASE:BTCUSD regaining it's momentum (keep an eye on the monthly close, we've not closed above $9340 in almost a year), and I think we will see a nice few months for CRYPTOCAP:TOTAL .
By now I hope you have all filled your bags as I instructed you to do so at $191.
Best of luck traders.