Ether breaking up from bullflag.

21 Mei

Very likely validating the breakout up from this flag with this big candle move/close today.. If so the target is all the way up at $5034. Reaching this price target can take price well above the purple line which is a neckline to a big inverse head and shoulders pattern. Once we were to trigger the breakout of the big inverse head and shoulders target we will likely be looking at a measured move target for it around 7300-7400! For now the current target to focus on is 5034, as it could still correct enough to dip back below the purple neckline after reaching the bull flags breakout target. Also chances at consolidations or pullbacks along the way to the bull flag target as well so tread wisely. *not financial advice*

21 Mei

Nota

It’s important to add that the main flag portion of the bullflag minus the pole is also a descending channel. If you only go by the descending channels breakout target the measured move target i right around where the purple inv h&s neckline is. Due to this confluence, probability is good that we could see some consolidation, slight correction, or pullback occur right after a retest of that purple neckline until it flips the necklines resistance to solidified support.