I am always looking for structural signals, trying to identify where I can be tricked by the makers or my own bias. If we cannot get past 4570 and get rejected here, a new bear channel can form (purple). We need at least two points of support + resistance to consider any channel. A drop could only target an area that I thought might get filled (4238) if it was fast and sharp at NY futures open on a gap down - It's a nothing burger if we blaze past the top purple line on this move. Would be invalidated.
Trade active
Expanded idea
Trade closed: target reached
This bear pennant might break.
Note
ETH is now targeting the 3950.37 Golden Fib. Heres a chart update. GL.
Note
If this upper purple line is overtaken, ETH targets 4373 then 4488 and can create a new micro-bull channel. If the rising wedge fails at the purple line, we fall towards the assumed target of 3950's. Stay tuned. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.