Ethereum (ETH): The $461 Level Could Be Hit

SUMMARY

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Obviously, Ethereum (ETH), like all of Cryptosphere, is following Bitcoin(BTC). Not always 1:1 correlated but directionaly. ETH is showing also a righward leaning bullish Inverted H&S. The LS,H are complete while the RS is still being worked on. The white Neckline needs to be breached to get the price confirmation. Volume also confirms as shown by the blue boxes.

The minimum run for this IHS would be $679 as shown by the purple lines. The righward leaning feature often indicates a more bullishness to the pattern and so the neckline breakout would be that much more violent.

The alternate, like BTC, is bearish. The purple lines show a upward wedge but it has not yet broken down. IF it does, then the $461 target could be hit. Recall the bigger picture?

The original bearish H&S Top pattern had its minimum run to be $461 and it had bothered me a bit that this was not hit and so a doubt lingered as to the genuiness of the price bounce. However, if this alternate plays out, the $461 should be tagged.

Here is the bigger picture where the Bull Flag is still in play. The purple line relates to the alternate wedge pattern scenario. This would also have ETH reach the 0.781 level also.

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