ETH Ascending Wedge, Uptrend Channels and Repeating Patterns

2nd Box in the Chart

First, when we look at the boxes on the chart, we can notice the horizontal accumulation zones that continue upwards sequentially. Now, let's look at the 2nd and 3rd boxes. In the 2nd box, we see a downtrend channel. After the price uses the bottom region of the box as support sufficiently with this downtrend channel, it gives the first upward breakout, and the uptrend process begins.

3rd Box

Now, let's look at the 3rd box. The price reached the 4K region, and despite many news events like the ETF, that price region acted as resistance and went down. Meanwhile, a downtrend channel similar to the one in the 2nd box formed. If we look closely, we can see that the price has already started using this downtrend channel. I think this process will continue similarly to the 2nd box. In other words, I believe that the upward breakout process will begin when the price squeezes until the end of the convergence between the downtrend channel and the bottom support region of the box. This could likely take a few months because there is quite a bit of space between the downtrend channel and the lower support of the 3rd box, and the price hasn't started squeezing yet.

After Breaking Upwards

After the price breaks upwards, I think it will move in a structure similar to the purple-colored movement, more or less. This is because the two uptrend lines below form an ascending wedge, and I believe the price will somehow catch up with this again.