The next movement should be a breakout to the top of the upwards ascending triangle, just like some months back:
A quick reminder, this is the basic pattern that we are following:
As you can see the past movement would suggest a breakout to the top in the next days. So when that happens, how high will ETH go in the mid term?
Again, lets have a look at what happened last time:
For figuring out how a past movement translates to a present movement one can look at the fibonacci ratios: From the top of the resistance to the top of the mid term movement the ratio is between 2.6 and 3.6. So this would be our target in the present market:
The target range would therefore be from about 3.9k to 4.8k. It's that simple!
So will the past once again be a guide for the present? We should find out soon...
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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