Anyway, yesterday ETH' seemed to have formed a solid pattern and today it was on it's way down but now the market seems to be making another attempt to move up again. I have seen these kind of things many times already and it usually comes down to if the bulls can manage to touch the high again around 148 like the blue line or make a lower high around 146/147 with low and then slowly turn down again like the red line. Seems we have a pattern to work with now, the triangle as you can see on the left.
In my previous analysis i showed a few support levels at the high and the first one around 141/140 did it's work and we saw another bounce to the 148ish high again. Now the bulls are trying to make this higher low to form that , so we can assume that if the 142ish breaks, that bigger correction i was expecting since this morning might still happen.
If the market is able to make this triangle work and make a big strong break out, it would be extremely , because that would be something we have not seen in a very long time. I think we will get an answer within 48h. For more info about the bigger picture, read my previous analysis.
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Despite being a lower spread than during the Jan-Feb proper correction, it's there and noticeable. I painted the ascending wedge in Feb 10 highs and so far the chart it's respecting it so IDK man... Last time the market broke up a similar formation it accelerated like crazy in December. The yellow line is a Diamond on the bigger timeframes that I painted to stay neutral but the inverted H&S seems far more likely (retracing to the 23.60% Fib of the bear market all the way back from Jun17') given all conditions and the ETHH19 "hint".
Would be great to know if you've been watching this lately and your thoughts on this. Even if it's just "you're overthinking and probably going to get wrong-footed by Bitmexican whales, man" :p. Cheers