A quick buy setup on ETH-USD, clearly on the chart, we can see a W pattern forming along with a double bottom. i believe we would be breaking through the resistance soon and when we do, you would want to wait for a retest of the resistance to validate the breakout.
as soon as the resistance get's flipped as support, we should be ready to fly. try not to be aggressive with trading the breakout immediately it happens, we might get a fake out. Waiting for a retest and a small consolidation above the resistance is how i would play this.
NOTE: Also watch out for high volume break, that might be your cue to get in on the breakout. Besides my short term target is around $2,300.
Trade safe and follow for more
as soon as the resistance get's flipped as support, we should be ready to fly. try not to be aggressive with trading the breakout immediately it happens, we might get a fake out. Waiting for a retest and a small consolidation above the resistance is how i would play this.
NOTE: Also watch out for high volume break, that might be your cue to get in on the breakout. Besides my short term target is around $2,300.
Trade safe and follow for more