Hi guys,
I just want to update my idea on ETH.
We are approaching the end of a symmetric triangle. If there is a breakout, eth might pop up. Let's see how it goes. Anyways, right now people feel too "safe" and "happy" because of BIP 91 and they are putting aside ETH (volume has decreased a lot in the past couple of days coinmarketcap.com/cu...eum/historical-data/).
It is important to not let the euphoria take over you. Therefore, it is recommended to wait what's going to happen on july31-August1st. I expected a violent rally on eth due to btc uncertainty hard fork. Since that did not happen, eth is still on the edge. It might gradually increase because right now people are blinded and they see only btc.
Hope you appreciated. Thanks.
Feel free to comment what you think.
Cheers
Sebastiano
I just want to update my idea on ETH.
We are approaching the end of a symmetric triangle. If there is a breakout, eth might pop up. Let's see how it goes. Anyways, right now people feel too "safe" and "happy" because of BIP 91 and they are putting aside ETH (volume has decreased a lot in the past couple of days coinmarketcap.com/cu...eum/historical-data/).
It is important to not let the euphoria take over you. Therefore, it is recommended to wait what's going to happen on july31-August1st. I expected a violent rally on eth due to btc uncertainty hard fork. Since that did not happen, eth is still on the edge. It might gradually increase because right now people are blinded and they see only btc.
Hope you appreciated. Thanks.
Feel free to comment what you think.
Cheers
Sebastiano
Trade closed: target reached:
Hi guys,
We broke down the symmetric triangle, therefore the pattern did not work as expected. It means that buyers were waiting for a more significant level (in terms of risk/reward ratio as well). In fact, we experienced a nice price rebound on the support zone (green area). After that, a rally occurred as correctly predicted, reaching our target, which is also an important level. Stay tuned guys;)
Cheers,
Sebastiano
We broke down the symmetric triangle, therefore the pattern did not work as expected. It means that buyers were waiting for a more significant level (in terms of risk/reward ratio as well). In fact, we experienced a nice price rebound on the support zone (green area). After that, a rally occurred as correctly predicted, reaching our target, which is also an important level. Stay tuned guys;)
Cheers,
Sebastiano
Comment:
here a better view of the price action (4H time frame)
