In attempting to breakout the upside of the clouds the ETHUSD is currently traded at a tricky level;
indeed in addition to the potential clouds breakout, which should be validated, at least by a minimum
of one more daily closing above the clouds, the ETHUSD is also managing to breakout of a broad triangle
pattern which if confirmed would trigger a very sharp upside move, targeting a rally of 1'375 points, in opening
the door for a technical target @ 4'870....
So, what next ?
Price action over the coming hours & days will give the answer; either the breakout will be validated and an upside acceleration
will take place soon (very fragile between 3'600-3'000, former long black candle of Sept 7th) with a potential double top around 4'000 or
breakout triangle failure and return within the triangle pattern with the next significant support around 3'150 (cluster) ahead of the triangle
base support trend line, currently around the 3'000 area and also, by the way the D1 bottom clouds.
Good luck
Ironman8848
indeed in addition to the potential clouds breakout, which should be validated, at least by a minimum
of one more daily closing above the clouds, the ETHUSD is also managing to breakout of a broad triangle
pattern which if confirmed would trigger a very sharp upside move, targeting a rally of 1'375 points, in opening
the door for a technical target @ 4'870....
So, what next ?
Price action over the coming hours & days will give the answer; either the breakout will be validated and an upside acceleration
will take place soon (very fragile between 3'600-3'000, former long black candle of Sept 7th) with a potential double top around 4'000 or
breakout triangle failure and return within the triangle pattern with the next significant support around 3'150 (cluster) ahead of the triangle
base support trend line, currently around the 3'000 area and also, by the way the D1 bottom clouds.
Good luck
Ironman8848
