ETH appears to be at a resistance zone, with low volumes, and high RSI. A retest at least to the $142 support is likely.
A golden cross is coming ahead soon. This could also give traders confidence and avoid a deeper retracement.
Overall, I think the ascending triangle is valid and an upward breakout is possible.
However, as we have all seen in the last cycle, Bitcoin had another drop after golden cross & breakout. This is also a possible way for this to play out (which would result in a double bottom --- if confirmed, a strong signal for the final reversal).
Obviously, I don't give trading / investment advice. I'd like only to point out that we should not get too excited. It is unfathomable for the market to repeat the end of 2017 in the next two months.
A golden cross is coming ahead soon. This could also give traders confidence and avoid a deeper retracement.
Overall, I think the ascending triangle is valid and an upward breakout is possible.
However, as we have all seen in the last cycle, Bitcoin had another drop after golden cross & breakout. This is also a possible way for this to play out (which would result in a double bottom --- if confirmed, a strong signal for the final reversal).
Obviously, I don't give trading / investment advice. I'd like only to point out that we should not get too excited. It is unfathomable for the market to repeat the end of 2017 in the next two months.
