I couldn't help but notice a nice potential 1/2 on the higher time frame. This makes all the sense in the world if we are heading into the next bull market for crypto, which i do believe we are.
Currently it looks like we are working on wave 1 of the 3rd so i would be expecting a pullback any time now to between the .50 and .618 fib of the wave 1 of 3.
Every major trend is going to have one thing in common
A series of higher high and higher lows, or a series of lower highs and lower lows.
Once you understand how to identify these trend patterns and the overall direction of a market, you can catch a move and stay in for a much larger trending move
You can apply this type of setup to intraday and end of day...
ETHUSDT broke out of the 4H ascending triangle dropping ~6% on the break of the bottom supporting trendline . ETHUSDT now seems to be forming exactly the same ascending triangle pattern on the 15m. I suspect we are in a short term consolidation period before we see more downside movement on the break of the lower trendline.
ETH price appears to be consolidating to form an ascending triangle following a strong sell off. Due to higher timeframe downside bias I would be looking out for a breakdown on the 4th or any subsequent test of the lower trendline of the ascending triangle targeting all time lows of around 81.5 but there is potential for the price to drive lower.