Bullish ETHUSD Long (long term) PennantBack in 2017 during the bull run we saw ETH break out of the Pennant to form a new ATH after rising ~300% from the point of break out of the pennant.
This is not a financial advice, but my view is that all market conditions allowing (since ETH isn't likely to soar up alone when BTC and other major top 10 coins are falling), that Eth will do a similar 300% rise to $12,000~$13,000 USD in the next coming years.
This was formulated based on Weekly chart pattern so this is going to be far out in the future but I just wanted to share my thoughts and call it out to see if I'm right or wrong in the future.
TP $12,000 (I would personally would break down TPs into 2-4 points, taking profit each levels, most of the time based on fibonacci retracement levels)
SL $1800
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P.S. to my future self:
RSI, MACD, Volume not carefully taken into account.
You think that the price would reach around 2026 Sep.
You think we're at the spring of Wyckoff accumulation/Distribution cycle.
You are also weary about the little break out to the bottom which might be already signaling a bearish breakout, you are also worried about the lack of volume in the past year during these price action which also indicates a bearish, but you decided to set a stop loss and see it as a mega bullish trend on its way and banking on 2017 pattern to repeat in the coming years, trumping the bearish sentiment