Hello Everyone,
Happy Friday! What a great day to be in crypto. With bitcoin consolidating, alt coins are surging upwards in the double digit percent or setting up very clean breakout patterns.
So lets talk about Ethereum. This chart is soooooo spicy. We can see a clear breakout above the previous all time high, daily, and weekly resistance. We've been holding this massive upwards trend line for about 2.5 months now, which is great.
If we take a look at what happened around the November to December timeframe, we can see a similar ascending triangle pattern forming and finally a breakout to the upside at around $700. This ultimately led price to immediately 2x and currently we are standing at a 3x in price from this previous breakout. Now we are seeing a breakout of another ascending triangle at $2000. Will price 2x in a matter of days again? it's possible. I wouldn't throw your whole account at it but if you were doing a DCA or averaging in, this might be a great time to buy.
I wanted to keep this one short and sweet. Alt coins can be great but remember Bitcoin is king and can shatter the alt coin market so manage your risk accordingly. Please like the post if you agree and comment your opinion if you think differently.
As always, manage your risk accordingly, be patient, and good luck trading!
Happy Friday! What a great day to be in crypto. With bitcoin consolidating, alt coins are surging upwards in the double digit percent or setting up very clean breakout patterns.
So lets talk about Ethereum. This chart is soooooo spicy. We can see a clear breakout above the previous all time high, daily, and weekly resistance. We've been holding this massive upwards trend line for about 2.5 months now, which is great.
If we take a look at what happened around the November to December timeframe, we can see a similar ascending triangle pattern forming and finally a breakout to the upside at around $700. This ultimately led price to immediately 2x and currently we are standing at a 3x in price from this previous breakout. Now we are seeing a breakout of another ascending triangle at $2000. Will price 2x in a matter of days again? it's possible. I wouldn't throw your whole account at it but if you were doing a DCA or averaging in, this might be a great time to buy.
I wanted to keep this one short and sweet. Alt coins can be great but remember Bitcoin is king and can shatter the alt coin market so manage your risk accordingly. Please like the post if you agree and comment your opinion if you think differently.
As always, manage your risk accordingly, be patient, and good luck trading!