Ethereum BREAKOUT!
Hello!
There is a great chance for a breakout happening in ETHUSD if the bulls manage to break the quarterly moving average that has found a resistance in the round number of 160$. Else to take note here is that ETH is currently in a value area in between 160,140 & 120 where the monthly average is waiting as a support marking clear value area between the quarterly & monthly averages.
If the bulls fail to break the quarterly average accompanied by the 160 round number the anticipation is that bulls will rally together around the monthly average and the round number of 120.
If the bulls succeed an up move to the 280$ can be probable before the steam runs out and we enter into a short term accumulation phase before trying to break into the next level which will be met by the annual average.
There is a great chance for a breakout happening in ETHUSD if the bulls manage to break the quarterly moving average that has found a resistance in the round number of 160$. Else to take note here is that ETH is currently in a value area in between 160,140 & 120 where the monthly average is waiting as a support marking clear value area between the quarterly & monthly averages.
If the bulls fail to break the quarterly average accompanied by the 160 round number the anticipation is that bulls will rally together around the monthly average and the round number of 120.
If the bulls succeed an up move to the 280$ can be probable before the steam runs out and we enter into a short term accumulation phase before trying to break into the next level which will be met by the annual average.
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Another indication of bullish features is the inverse head and shoulder pattern that found support on the round numbers marked with dotted lines on the hourly chart here.
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Tension is building up, another inverse H&S FRACTAL on the 30min!
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Another sign of tension on 5 min chart close to the quarterly average on 4 hour, fractal within 30 min chart!บันทึก
Quarterly moving average has been pierced and it seems like we might have a new support area on the round price area combined with this, need some more printed lines above it for it to be valid
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