ETH | Next Goal $8,000 | iHnS | CUP & HandleHere we're looking at what seems to be a inverted HnS pattern developing inside the Handle portion of the C&H pattern
Crazy...right?
Usually I like to use these at the bottom of a trend similarly to my KRAKEN:BEAMUSD analysis but in this case price structure is holding up above $2,500 - $3,000 which still makes price action very bullish especially that we haven't really been rejected by resistance as yet
Instead what we're experiencing is a large price consolidation swinging in between a 60% range with buyers accumulating at the low end
I'm looking to see a price fall of around 8% to complete this falling wedge pattern (RS) then a breakout around mid February sending price back to the top end range of this consolidation
Next step in price action we want to whiteness a clean break above $4,800 resistance (100% Fib Ex) to then create a pullback trigger around that area for a Buy-High Sell-High strategy
(entry #2)
If successful we can see a trajectory just under $8,000 ETH!
This TA lines up with my large ABCDE Triangle pattern mentioned in the video with a overall target of $15,000 ETH for the next ALT season.
