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Ethereum
Long
Updated

$ETH soon to come back from break

2 018
It is just the beginning for ETHs run. The anticipation for an Ethereum ETF is starting to buzz around. We have hit the zone highlighted in my previous ETH drawing which consists of a channel and a weekly Ob-. As part of the order block theory composition, I have marked the 'mean threshold' of said Ob- as our next zone of interest. The current price action is drawing a descending wedge at a shallow retracement which says we are strongly bullish.
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Seems we will close the Weekly as an inside candle for ETH. Boundaries drawn. I am betting on upper boundary to be breached and soon thereafter upside continuation as inside candles tend to do, lets get that $3040.
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Breached down, continued down. Now we are sitting on a strong support area and this price action reminds me of what GOOGL painted back in 17'. It wont take as long as it did but the similarities are pretty clear so far and this support should take us above local top as showed below.

GOOGL
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ETH
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On route. current Daily candle hitting a higher high, probably nothing ;)

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Printed te strongest Weekly candle since $1600. It aims at $3400

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We did it Joe

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Will challenge ATH
Never below $3.5K again

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DaMaximus
Chart PatternsFundamental AnalysisTrend Analysis

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Chart PatternsFundamental AnalysisTrend Analysis
DaMaximus

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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.