Ethereum has formed a PG on the 6-hour chart and broken out
The price explosion in Ethereum was actually predictable here. Unlike in Bitcoin, a PG was formed here beforehand. The breakout came very late, as the signal was almost invalid. However, the green 6 hour candle beforehand was very meaningful and thus confirms the breakout.
How far could the move go now?
I have drawn a trend channel on the 12-hour chart. The upper and lower trend lines have already been approached several times. The upper trend line would therefore be a good target for this trade and who knows what will happen then. If everything works out, then maybe we will break this line and rise more strongly.
A position has now been opened and my TP is at this line. The rest will probably be left running in the hope of a miracle.
Source: (Guidants/Godmode Trader) & JFD Broker & Binance
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