ETH Potential Big Moves Into Oct.
Hi Everyone,
With the ATH in May and our top before the flash crash we had a couple weeks ago I've drawn a descending trend line that is acting as major resistance before reaching or breaking ATHs.
With the our bottom in July I've drawn 2 trend lines that act as channels for ETH currently. These channels converge with the upper resistance in the beginning of Oct., and if the channel remains in tact this month, then we should be seeing either a breakout above the channel into ATHs or break below the channel for further consolidation lower
I'm bullish on ETH so I view this as evidence for a long position, but all this shows is that we should be expecting a big move either up or down as we leave Sept. and enter Oct.
With the ATH in May and our top before the flash crash we had a couple weeks ago I've drawn a descending trend line that is acting as major resistance before reaching or breaking ATHs.
With the our bottom in July I've drawn 2 trend lines that act as channels for ETH currently. These channels converge with the upper resistance in the beginning of Oct., and if the channel remains in tact this month, then we should be seeing either a breakout above the channel into ATHs or break below the channel for further consolidation lower
I'm bullish on ETH so I view this as evidence for a long position, but all this shows is that we should be expecting a big move either up or down as we leave Sept. and enter Oct.
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.