Ethereum: Bullish Market and When to Buy

If we use the daily timeframe and Ichimoku indicator, we will have 2 possible trade opportunities. The price moved above 400$ resistance and the cloud. It tells us that the market became bullish. The 1st trade opportunity is based on a breakout above the local high. It will confirm the strength of the buyers and a further upward movement. Stop orders should be placed below 400$ support and the local swing low. The main profit target should be at 500$ resistance zone.

If the price moves back to the cloud, we will be able to use a reversal signal for buying. Stop orders should be placed below the local swing low. The main profit target will be at 500$ as well.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.