vqaseo
Long

ETH possible recovery until end of July

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
It's difficult to be bullish tbh, but charting is charting and now I'm seeing this :

Linear Chart - 1D - ETHUSD - BitFinex
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- Clean FW with a successful retest today (which is not guaranteed yet)
- After a FW , we usually can see a i.HS forming, which is the case right now. i.HS seems to be valid if we check at volume . I just don't like the Head volume but it doesn't really matter tbh.
- We have an oversold condition, looking at TTM_Squeeze, tending to a long momentum, it looks like, with a hidden bullish divergence too
- Speaking about divergences, look at RSI , clean Divergence too
- We should now check at targets and candles to know if the pattern target is accurate with overall chart & prices. i.HS target is 600, which correspond with historical resistance zone and more or less 0.5 Fib level

Conclusion : $600 per ETH seems to be a realistic value for end of July.

Note : Thanks for your time and don't forget to trade at your own risk, nothing there is a financial advice, only guesses and analysis. I would appreciate if you give any feedback.

VQ.
Comment:
Comment: Looking nice.

We got a long squeeze signal on Daily and right now price is testing the ATH downtrend line. We could see a very nice upward movement if breakout.

RSI has breakout as we can see. RSI is usually in advance versus price, so it's a good sign and nearly a confirmation.

Take care.
VQ.

Comments

Hey, I had a similar idea. See my post below. Good thought.

Reply
vqaseo TradeCalmly
@TradeCalmly, Yep very similar. Looking nice for the moment, I am more & more confident every day.
Reply
Thanks a lot for your personnal opinion. Hopefully we will see a bullish market anytime soon.
Reply
vqaseo matik123
@matik123, Thanks, not sure about the bullish market on mid term, but short term looks nice
Reply
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