Safori

ETHUSD - Potential Breakout from Intermediate Downtrend

Long
POLONIEX:ETHUSDT   Ethereum / Tether USD
Price is looking to exit the bearish pitchfork we've been stuck in since ATH earlier this year. Aiming to clear resistance block and move on to attempt final downtrend line of the pitchfork . The breakout from the pitchfork would suggest a conclusion of the downtrend that dominated Q1, and would be a further confirmation that alts season is upon us. First target would be ~ $680.

NB: StochRSI is oversold on the daily, so expect some accumulation to afford it a reset before attempting horizontal resistance identified above.

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