The ETHBTC Megabull Pending the Activation of the IH&S PatternHi everyone! Before we get started, take a second to hit the like and follow button to put this idea on the top spotlight and keep getting updates.
For those who have been following our updates and charts on Telegram, you remember that we've posted the same chart back in December 2018 pending the completion of the green IH&S. At this moment, the market seems to have completed enough consolidation to attempt another breakout to complete the last shoulder of the IH&S and activate it with a hit of 0.040.
You can clearly notice looking at the chart that ETHBTC has a strong repeating IH&S bull reversal historical pattern (we are going for the 3rd now) within the log parallel bull channel , and once that we activate the IH&S we will very likely have a similar explosive Megabull on this pair (even ETHUSD ) towards the top of the channel around few potential targets depending on how Bitcoin pans out:
0.32-0.36 BTC
0.51-0.61 BTC - which is most likely the final target, target that we had since December
The question is pretty much the timing hence why two fractals were included with the blue fractal topping on August 2019 and the delayed purple fractal with a top in May 2020 right around Bitcoin's halving. Feel free to discuss if you agree or disagree!
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