Some time ago I made an analysis where I looked at ETH and the horizontal channel it was trading in. At that time, a reversal from the resistance area would've been the most likely case. However, I wrote that a big break out candle would invalidate the signal. And indeed, we got the massive green candle breaking us out of the boring sideways area.
As of now, ETH is trying to make a higher low after a minor bearish correction. If ETH manages to close above $1600 soon, I'm deeming the breakout and change of trend successful.
My targets will be $1750 for now, and $2000 in the longer term. An ETH above $1600 would be great news for the bulls. Patience!
Keep it up! After the latest asset movements, this scenario is more appropriate than ever. I wonder if you use leading indicators to confirm your ideas?
AtlasTrades
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High Probability Set-up for eth, I agree with this pattern