$ETH/USD 1W (#Coinbase) Huge rising wedge on support

Ethereum is falling sharply while RSI is printing new ATL, time to be opportunist and place some juicy bids on 300MA and below!

Current Price= 1030.88
Buy Entry = 915.64 - 739.86
Take Profit= 1265.98 | 1632.40 | 1998.81
Stop Loss= 534.62

Risk/Reward= 1:1.5 | 1:2.75 | 1:4
Expected Profit= +52.94% | +97.21% | +141.47%
Possible Loss= -35.41%

Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 1x
Estimated Gain-time= 1 year

Tags: #ETH #ETHUSDT #WETH #Altcoin #PoW #Eth2 #PoS #Governance #SC #DApp #DeFi

Website: ethereum.org

Contracts:
#Mainnet
#ERC20 0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2
#BEP20 0x2170ed0880ac9a755fd29b2688956bd959f933f8
#BEP2 ETH-1C9
#AVAXC 0xf20d962a6c8f70c731bd838a3a388d7d48fa6e15
#SPL 2FPyTwcZLUg1MDrwsyoP4D6s1tM7hAkHYRjkNb5w6Pxk

Trade active:

1st entry filled

Ethereum is retesting 300MA support as planned so far, we are laddering down inside the demand zone!

Comment:

Up to +31.85% (1x) already

Ethereum bounced back quite precisely and is heading towards first target, nice bottom catch so far!

Trade closed: target reached:

TP1 reached with +45.49% (1x) and +1.5R

Ethereum is forming a potential V-shaped recovery and RSI is about to flip the downtrend!
Bullish continuation seems likely, SL adjusted up to lowest entry (739.86) in any case.

Trade closed: target reached:

TP3 reached with +130.89% (1x) and +4R

Ethereum continued up and went for final target way faster than expected, great recovery, time to fully Take Profit!

As you can see, "RSI breakout" did its job and fractal played out very nicely, with no mercy for late bears.
Descending TL was broken as well but 200MA Daily is still ahead and will likely act as resistance, around 2250$ right now.

If we would have to predict next move for coming weeks, something like that red arrow would make sense, but we'll wait patiently out.