ETH hourly accumulation with ascending triangle?
Updated
With the first BTC ETF being approved, end of year targets for BTC and ETH is highly bullish. Speculation on the hourly appears to be building an ascending triangle.
Intermediate-term trend lines on 4-hr and daily time frames seem to be holding support and a breakout this week above 4.1k and firm retest of ATH
should confirm bullishness if mild accumulative price action on extremely bullish crypto news continues.
Best case for continued growth in my opinion for ETH is weekly timeframe finishing above 4k, then a re-test of support of between 3.6 to 3.75k next week.
If the price action flies too high above short-term daily EMAs, no doubt there will be more profit takers.
Intermediate-term trend lines on 4-hr and daily time frames seem to be holding support and a breakout this week above 4.1k and firm retest of ATH
should confirm bullishness if mild accumulative price action on extremely bullish crypto news continues.
Best case for continued growth in my opinion for ETH is weekly timeframe finishing above 4k, then a re-test of support of between 3.6 to 3.75k next week.
If the price action flies too high above short-term daily EMAs, no doubt there will be more profit takers.
Trade closed: target reached
Looks like people are aping in now that ATH , a little too active going into the weekend imo.
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