Hey everyone, back with what I think is some feel good news for ETHUSD market. Anaylzing the 4H chart, many traders noticed the textbook head and shoulders that looked to be forming, but for all you bullheads out there thankfully this pattern did not reach completion and we have what looks like a bullish pennant pattern that has formed. We are reaching the end of this pennant and continuation of the previous bullish uptrend is expected. Looking at the flagpole increase from the previous breakout from the downtrend, estimated price target is between $565-570.
***This is not a recommendation to buy or sell. Please do your own research and make educated trading decisions***
***This is not a recommendation to buy or sell. Please do your own research and make educated trading decisions***
Comment:
breakout of the pennant as expected. Continuation of prior uptrend is occurring. If the target is reached watch closely. Expect signficant resistance at 575. We will look at future ideas as we approach the price target.