This is going to be an update to the TA that I posted yesterday. So if you don’t know where we are as far as the weekly and daily chart is concerned, I would suggest just taking a look at the TA I posted yesterday on ethereum and just getting up to speed.
So where we left off yesterday we were looking at the channel in the trap zone and I was mentioning how I wasn’t sure if things were going to fall down and retest potentially break out and then retest the channel trend line.
When I woke up this morning I was pleasantly surprised to see that we actually broke this trend line from yesterday with some decent volume. Check out the video for full TA, chart posted below.
When I woke up this morning I was pleasantly surprised to see that we actually broke this trend line from yesterday with some decent volume.
In the last 12 hours before this major move our volume is almost twice as high as those three periods and well above average. The previous eight hours have been about average so looking pretty good as far as the breakout is concerned.
This so far is looking like it confirmed a breakout I don’t think we’re going to see a fall back into the channel as of yet. Check out the video for a full in depth analysis.