Ethereum could be in the process of forming an inverse head and shoulders. I'm keeping an eye out in the hopes that we do see that second shoulder form around the 600 USD level soon and that it is followed by a breakout. Our target to the upside would be in the 680-690 USD region, abruptly enough that we could expect a bull flag or pennant to form, and with enough volatility to suspect that we'd be looking at a bull flag rather than a pennant. Which would mean another hundred dollar target to the upside. $800 ETH by the end of January looks reasonable.
Trade closed: target reached