Ethereum Targets 2700 and 3000 NEW PATTERNS - See it!
Hello dear traders,
I have made another update for Ethereum ETH and we it here on the 1 hour chart.
Ethereum has formed 2 patterns with both different higher targets.
A Bullish rising wedge with a target of 2984 USD and a reverse head shoulder formation with a target of 2711 USD.
ETH is also forming higher highs and higher lows so the short term trend is clearly up.
I like to trade what I see and not what I think. Hence these targets and the how and why. I like analysis plain and simple.
The longer term view of Ethereum depends on Bitcoin as it remains the undisputed leader but Ethereum is the closest to it.
We could see that in the declines yesterday. BTC and ETH still held up reasonably well while most of the ALTS showed more losses. Of course, when the market is rising, these can also rise faster again but the risk is alos more.
Support and resistance you can see in the chart.
Soon I will post also an analysis of Bitcoin.
Guy's, please share your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍. That motivates me a lot to continue this work for you guy's 💚
I have made another update for Ethereum ETH and we it here on the 1 hour chart.
Ethereum has formed 2 patterns with both different higher targets.
A Bullish rising wedge with a target of 2984 USD and a reverse head shoulder formation with a target of 2711 USD.
ETH is also forming higher highs and higher lows so the short term trend is clearly up.
I like to trade what I see and not what I think. Hence these targets and the how and why. I like analysis plain and simple.
The longer term view of Ethereum depends on Bitcoin as it remains the undisputed leader but Ethereum is the closest to it.
We could see that in the declines yesterday. BTC and ETH still held up reasonably well while most of the ALTS showed more losses. Of course, when the market is rising, these can also rise faster again but the risk is alos more.
Support and resistance you can see in the chart.
Soon I will post also an analysis of Bitcoin.
Guy's, please share your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍. That motivates me a lot to continue this work for you guy's 💚
Trade closed manually:
Hi traders,
I posted an update in the wrong chart but here is it:
Traders here we can see a possible problem for now. The declining trendline in Ethereum. This trendline need to be broken before we can continue the rise.
So I close my position for now and wait untill we break that longer term down trendline. Also the rise of almost 50% from the bottom is impressive but pretty normal after such decline.
This is not an advice just the way I do the trade and safeguard profits. When Ethereum break the trendline with volume I am back in for the continuation of the trend.
I posted an update in the wrong chart but here is it:
Traders here we can see a possible problem for now. The declining trendline in Ethereum. This trendline need to be broken before we can continue the rise.
So I close my position for now and wait untill we break that longer term down trendline. Also the rise of almost 50% from the bottom is impressive but pretty normal after such decline.
This is not an advice just the way I do the trade and safeguard profits. When Ethereum break the trendline with volume I am back in for the continuation of the trend.
Comment:
Comment:
Here you can see the last upwaves in this downtrend. Possible it break to the upside but I will wait for confirmation personally.
Comment:
Traders the trendline has been broken and that is good news. The target of the inverted HS will be hit very soon!
Hope you make good profits!
Hope you make good profits!
Comment:
Dear traders, we could see this scenario in Bitcoin which also is important for Ethereum and ALTS.
This is a scenario because the neckline of the HS is not been broken yet!
This is a scenario because the neckline of the HS is not been broken yet!
Trade closed: target reached:
Traders wh have reached the exact target of this trade 2744. My target was 2711.
