ETH/XBT is reminding me of good old days atm.Ascending broadening wedges breaking upwards , that might remind you something if you're not new to this. ETH against bitcoin has started showing nice recovery after breaking that bigger wedge with pink lines . I am already long from 0.027-0.028 range and my initial potential targets are indicated by those green line near the top of the wedge . That yellow wedge breaking to the upside is really bullish sign ,imo. Volume is also increasing gradually with this breakout which gives a confirmation to the good potential move up before any major retracement. It becomes very important for the sidelines Joeys to wait and see if that white horizontal support line holds or not . If not , then a successful throwback test of the larger wedge(Descending) support would be a nice play. A break below that and back into the wedge would indicate weakness in the price action. Although , I'm also waiting for that successful throwback test to add up to my coin count but it can always keep going straight up with little to no retracements as we have seen in bullish times.
I'm not being too bullish but it looks good. and moreover their are traders , who would like to see ETH back to 0.07-0.085 or 0.045-0.05 atleast as it has been long long time of bearishness.
This is not a financial advice. Crypto is a risky investment so tread carefully and trade smartly.
Thank You
