As we all know, ETH has seen very little action over the last month due to BTC stealing the show. However with the BTC fork craze nearing an end, I believe that ETH may have a chance for a move.
As you can tell from the chart above it appears that ETH is starting to squeeze within a pennant.
The BULL Cycle: IF we happen to break through top, I will be entering a long position. My major target points would be 350, 394, and 448. Additional target points are the fib extensions shown above.
The BEAR Cycle: As much as I would love to see ETH make a run up, there is still a chance we will fall out the bottom of the pennant. IF this happens I will likely place a short, and my first target would be the major support line at 271.
I hope this helps and I wish you all the best of luck!
DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
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My order filled at 326 while I was sleeping. Little higher than I expected, but it is what it is; Especially with that scary drop follwing BTC down! However, it appears we have found support on this trendline which is a great sign! A break below this like will trigger my short term stop/loss.
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