• Vasily Trader

ETHUSD: New Structure High & Important Breakout, What is Next?

hey traders,

After a nice bullish accumulation within an ascending triangle formation,

ethereum finally managed to break and close above 1445 structure resistance .

With that breakout, the price set a new all times higher high higher close.

If you missed a long entry, consider the narrowing area between a broken horizontal structure and rising trend line .

that is our local demand zone and safe point to buy from.

Concerning the next goal for buyers, I have projected the range of the ascending triangle .

I took the strongest impulse leg within that and projected it from a broken structure.

It perfectly points to the 2000 level. It is a nice psychological round number as well.

Also, please consider 1712 level. It is just the middle of the projected impulse leg,

based on my experience I noticed that it matters as well.

Good luck!