Updated

[Watch it] Ether at crossroads

Ether about to challenge its medium term support, wait and watch for the outcome.

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Trying to bounce.
Volume will tell.

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Rising wedge broken after flag/bounce.

Likely to dip again.

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Ok, still inside the bigger triangle ( see opening post) and closer to breakout.

We have an ascending channel intersected by a triangle as price is moving closer to local resistance. Bias is slightly on the bearish side (ABC to test support).

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Whateve the local price action, watch bounds of the bigger triangle and wait for a breakout on volume.

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Zooming out to see the whole picture.

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Triangle broke up, confirming channel.

Would expect a test of resistance.
Watch it.

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Testing resistance ...

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Ether managed to breakout resistance, but did that on insufficient volume.
As you may see it broke its original ascending channel and completed a pullback to resistance ( now support ).

Hopefully it switched to a further and less steep channel.
Will it hold ? It mostly depends on bitcoin now.

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And it failed, not enough volume ...

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Oh, well.
Back to the basics:

Patience.

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I see a chance, falling wedge:

Let's see.

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Trying to confirm the falling wedge.
So far so good.

Await confirmation on daily close.

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Come on, Ethereum, show us ome volume ...

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It matched first target ( see arrow ) and reached resistance.

Fine.

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Ether needs to confirm this pennant (may turn into flag) in order to avoid a plunge

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It did turn into flag and, as you may notice, found its confirmation ...

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Ok, let's see whether we have some proper bulls or some calves here ...

Tipping point, people.

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So support did hold.

Now Ether is drawing a diamond formation, hopefully not a diamond top.

What i'd like to see here is actually a half staff, or if you prefer a confirmation of this bullish asending triangle, eventually through a cup&handle:

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Maybe ( cup & handle within triangle ):

handle may go as low as support though.

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Zoom: trynig to breakour descending channel and falling wedge:

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