As we can see Ethereum is in the middle of the channel we can call it Parabolic Channel. If it break in any direction there will be some crazy boom depends of direction.
For now it bounced from channel and road to another high which i mark as " bullish target 1 ( 5014$ ) and Bullish Target 2 (5490)"
If break bullish target 2 ( 5490$ ) that would be breakout in upwards from that channel and there will be no limit for targets. In that case i will have targets
Mega Bullish Target 1: 6040$
Mega Bullish Target 2: 7070$
Bearish Case and Pottential Breakdown need to be aware about it as chance for thats around 50%. Even if we hit Bullish target 1 or Bullish Target 2 we need to be aware once it breakdown that channel that will be Free FALL DOWN.
I marked 5 targets for pottential Bearish case
Bearish Target 1:4040$ That would be most likely reached from one big Red Candle.
Bearish Target 2: 3780$ Also can be reached just with one red candle.
Bearish Target 3: 3510$ For that target i think it will need little more time for example first rejection then bounce and another leg to reach that target.
Bearish Target 4: 3130$ for me that is most important area for bulls to protect if lose that area most likely it will hit my Target 5 which is around 50% from our invalidaton level from bulls.
Bearish Target 5: 2040$ That would be confirmation for end of bull run and begin of correction. That would be first bottom area for new Bear Trend and just begin.
Bearish Confirmation for this targets would be at : 4512 but lets say 4460 to be more sure for it. There is also not only end of the channel there is alot of MA and alot of stuff.
Just be Aware if you are Bull or Bear we are in zone where Big Boom is preparing just in which Direction Nobody can't say with sure.
We have our levels and with that we can trade.
Play Safe With Us and be aware more then Ever.
For now it bounced from channel and road to another high which i mark as " bullish target 1 ( 5014$ ) and Bullish Target 2 (5490)"
If break bullish target 2 ( 5490$ ) that would be breakout in upwards from that channel and there will be no limit for targets. In that case i will have targets
Mega Bullish Target 1: 6040$
Mega Bullish Target 2: 7070$
Bearish Case and Pottential Breakdown need to be aware about it as chance for thats around 50%. Even if we hit Bullish target 1 or Bullish Target 2 we need to be aware once it breakdown that channel that will be Free FALL DOWN.
I marked 5 targets for pottential Bearish case
Bearish Target 1:4040$ That would be most likely reached from one big Red Candle.
Bearish Target 2: 3780$ Also can be reached just with one red candle.
Bearish Target 3: 3510$ For that target i think it will need little more time for example first rejection then bounce and another leg to reach that target.
Bearish Target 4: 3130$ for me that is most important area for bulls to protect if lose that area most likely it will hit my Target 5 which is around 50% from our invalidaton level from bulls.
Bearish Target 5: 2040$ That would be confirmation for end of bull run and begin of correction. That would be first bottom area for new Bear Trend and just begin.
Bearish Confirmation for this targets would be at : 4512 but lets say 4460 to be more sure for it. There is also not only end of the channel there is alot of MA and alot of stuff.
Just be Aware if you are Bull or Bear we are in zone where Big Boom is preparing just in which Direction Nobody can't say with sure.
We have our levels and with that we can trade.
Play Safe With Us and be aware more then Ever.