Short term resistance at 224, Now ETH/USD forms 2nd Bull Flag
Mentioned day before yesterday that ETH/USD had formed a descending wedge bull flag with a target of 210-212. That happened like clockwork when the breakout confirmed the pattern. Also made note of resistance to be expected at 224 and... like someone reading a script, the strong move up halted at 224 and change.
Now it appears that 224 is where a new bull flag has formed (pink lines that are parallel). If this flag is 'flying at half mast' as many end up doing, ETH/USD ends up taking 224 out and heading for higher ground. This flag has already broken out and appears to have back tested as of 10:00 EDT.
Chart and analysis brought to you by... 0x521b495fc2D065787F21c5a2d6560e8dD141a4f4
Now it appears that 224 is where a new bull flag has formed (pink lines that are parallel). If this flag is 'flying at half mast' as many end up doing, ETH/USD ends up taking 224 out and heading for higher ground. This flag has already broken out and appears to have back tested as of 10:00 EDT.
Chart and analysis brought to you by... 0x521b495fc2D065787F21c5a2d6560e8dD141a4f4