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Ethereum: Gearing Up For Its Next Move

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Ethereum (COINBASE:ETHUSD)  
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COINBASE:ETHUSD   Ethereum
Chart Patterns Trend Analysis ETH Ethereum (Cryptocurrency) ethereumusdt
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chartpattern trendanalysis eth ethereum ethereumusdt
Crypto has seen a huge correction from the previous all time high a few months ago.

My current thought process for this trade:

Seems like crypto assets have become tied to the moves of the global markets. An easy indicator is to watch the correlation of the SPY as they seem to be moving in tangent, for now....
Komen:
Looking at the symmetrical triangle forming at the apex of the wedge. This could potentially be a really big move up. Currently looking at a short term swing up to $4000.

The potential for a long entry to a new ATH can be a possibility here as well.
Komen:
Testing the downward sloping resistance...
Komen:
Getting a reaction bounce of support line
Komen:
Potentially getting a confirmation of breakout, retesting downward support which was previously resistance.
Komen:
Only trade was a short after the 200MA rejection
Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.