3380 resistance formed an ascending triangle which ETH broke out from the 31st of August. The measured move of the ascending triangle is current high.
Notable is a daily bearish divergence which I believe will cause a pullback back to 3380. Overall the PA is very bullish and a continuation to between 5230 and 5500 is expected. 5230 will be the 0.7% of the log curve.
The bearish scenario is a failure to SR flip 3380 printing a fakeout.
Previous bearish idea was invalidated with the breakout from ascending triangle. But keep in mind that historically Septembers have been red.
Notable is a daily bearish divergence which I believe will cause a pullback back to 3380. Overall the PA is very bullish and a continuation to between 5230 and 5500 is expected. 5230 will be the 0.7% of the log curve.
The bearish scenario is a failure to SR flip 3380 printing a fakeout.
Previous bearish idea was invalidated with the breakout from ascending triangle. But keep in mind that historically Septembers have been red.
Comment:
