Summary:
ETH price action has been on course as per my previous analysis (click here). Price is almost at the Target 1 zone, and we might see price reach out the target zone 2 ( 100% of the height of the head from neckline).
Over all trend is still downward until the upper trend line resistance is broken, and volume has been thinning down lately.
What next after the both the targets are hit?.
Its too early to call but, Once the price reached the target zone 2 with huge volume spike and the Support at 550ish level holds, That will give us a DOUBLE BOTTOM pattern (Bullish pattern) and target for that would be 1400ish. Again its too early to call it, its just a probable path and longterm scenario which may not playout at all.
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Disclaimer:
I am not a financial advisor, nor the information posted in this article is a financial advice. The information in this article is my personal opinion and is not recommended to make any investment transactions based on it. I do not take any responsibility for the investments made based on my analysis.
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