ETHUSD has recently broken out of a multi-year resistance line at $360 and successfully backtested it. It's forming a large cup & handle with a technical target in the $700 range.
RSI is also looking good - a proprietary indicator I have is currently showing an uptrend (see green background behind RSI in this chart). The RSI potentially is forming an inverse head/shoulders pattern (note the trendlines drawn on the RSI).
If ETH can clear $420, then next resistance is 440, 480 of course and above that, blue sky to 700.
Disclaimer: I've been longing ETH dips since about $280 and continuing to
RSI is also looking good - a proprietary indicator I have is currently showing an uptrend (see green background behind RSI in this chart). The RSI potentially is forming an inverse head/shoulders pattern (note the trendlines drawn on the RSI).
If ETH can clear $420, then next resistance is 440, 480 of course and above that, blue sky to 700.
Disclaimer: I've been longing ETH dips since about $280 and continuing to
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Zooming out there's this double-bottom as well which projects a target of around $700.
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👀
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Short term bearish, long term bullish
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Monstrous breakout. Remember to take some profit along the way!
Trade closed: target reached:
Target reached. Landed right in the magnet :)
