a very good ascending triangle. the crypto market is hot today. a break above 217 can send eth to 250-255 zone.
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very good reaction so far. held above the previous resistance, and made a symmetrical triangle. broke that with high volume. you can now manage your risk below the symmetrical triangle
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target got hit, however, the market looks very strong at the moment.
the target of the triangle is a bit higher around 260 but eth is rubbing itself under a strong resistant zone atm.
I take some profit here and let the rest of the position run with a trailing stop loss.
the target of the triangle is a bit higher around 260 but eth is rubbing itself under a strong resistant zone atm.
I take some profit here and let the rest of the position run with a trailing stop loss.
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ETH is one of the strongest in the market at the moment, It has been outperforming BTC which is visible on the ETHBTC chart and I believe it's going to continue like this for a while.
BTC looks strong as well and it might complete a bullish setup soon. IF it happens then it will probably boost ETH's price as well.
that's why I've decided to let this position run with a trailing stop.
BTC looks strong as well and it might complete a bullish setup soon. IF it happens then it will probably boost ETH's price as well.
that's why I've decided to let this position run with a trailing stop.
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A break above the current resistance around 250 and holding it as support can be a good signal for continuation to 300 ish or even higher.
I might add to my position IF that happens and continue to update it on a new post.
I might add to my position IF that happens and continue to update it on a new post.
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Trade closed: target reached
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+2R