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Before Ethereum reaches $6,000, there is a tremendous buying opportunity
On its Point and Figure chart, Ethereum price displays a strong bullish reversal signal.
A big short squeeze is on the way.
There are hazards, but they are quite restricted in extent and range.
The price of Ethereum has just established the circumstances for one of the most powerful bullish reversal signals in Point and Figure analysis. The prospective deal may result in a $2,000 increase from the entry point, representing a greater than 50% gain.
The price of Ethereum is about to skyrocket; the $6,000 mark is in sight
On the $100/3-box reversal Point and Figure Chart, Ethereum price has one of the strongest bullish reversal setups it has seen in a long time. A Bullish Shakeout is the name given to this pattern. A multiple bottom is required, followed by at least two but no more than three Os below that multiple bottom. Furthermore, the trend must already be positive.
What makes this setup so combustible for the Ethereum price is what is anticipated to happen just after the entrance. As a result, two occurrences are expected to occur concurrently: first, a breakout above a triple top. Second, a break above the current bear market trendline (red…
