Hi everyone,
Pattern: Ascending triangle is formed in weekly time frame for Ethereum (2022-2024). The triangle pattern was formed in the previous cycle (2018-2020).
Pattern breakout and target price: Once the price break out of the triangle pattern the target will be the triangle height, measured from break out point. This happened in the last cycle and the target price was reached. If happens in this cycle, we are looking at target price of 20K after the breakout.
Time analysis: If we are analyzing the time from cycle top to cycle top, we will be looking at end of Sep 2025 as the target time for the target price. If looking at cycle bottom to cycle bottom, the target will be mid June 2025. So, we can set our target time anywhere from June to Oct 2025 for this cycle top.
Let me know what you think! Cheers!
Pattern: Ascending triangle is formed in weekly time frame for Ethereum (2022-2024). The triangle pattern was formed in the previous cycle (2018-2020).
Pattern breakout and target price: Once the price break out of the triangle pattern the target will be the triangle height, measured from break out point. This happened in the last cycle and the target price was reached. If happens in this cycle, we are looking at target price of 20K after the breakout.
Time analysis: If we are analyzing the time from cycle top to cycle top, we will be looking at end of Sep 2025 as the target time for the target price. If looking at cycle bottom to cycle bottom, the target will be mid June 2025. So, we can set our target time anywhere from June to Oct 2025 for this cycle top.
Let me know what you think! Cheers!
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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.
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.