Joontree

Is ETH ATH about to happen

Long
Joontree Updated   
COINBASE:ETHUSD   Ethereum
ETH just broke to 4H higher high

will it

A) Consolidate briefly on lower timelines before shooting to ATH

or

B) Return to rising wedge line
Comment:
Update: Looks like the correct answer was A in the shorter term

Going back down to the rising wedge line is still a possibility imo as all of the ETH ATH breaks thus far have been tepid and overextended leading to much needed consolidation shortly after. This time does look a bit different as the price action has been a bit more stepwise than parabolic opening the possibility for bulls to have moved support up to the mid 1400's. Current setup makes a break of 1500 seem likely today!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.