ETh, somebody stop it! No wait don't. ETH has been so strong in the last week during this period where BTC has been in a short term correction. ETH literally only stepped out of it's uptrend for a day before being launched straight back into it. When it broke down it fell on three converging lines of support.
1. The top of the consolidation triangle (thick yellow lines).
2. Previous zone of demand (green box, better visible on the four-hour chart).
3. Purple trend line coming through from previous price action (sorry hard to show you on this zoomed in chart).
With all three of these now under the price action and the only thing above it being the previous all-time high I am very bullish on what ETH will do next. I'm loaded up on ETH and some other layer ones now and eagerly watching what happens next.
1. The top of the consolidation triangle (thick yellow lines).
2. Previous zone of demand (green box, better visible on the four-hour chart).
3. Purple trend line coming through from previous price action (sorry hard to show you on this zoomed in chart).
With all three of these now under the price action and the only thing above it being the previous all-time high I am very bullish on what ETH will do next. I'm loaded up on ETH and some other layer ones now and eagerly watching what happens next.
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