Ahoy traders,
here's my long term view on ethereum:
The Market had strong move upwards from the support zone ($400 - $422 levels) and is already breaking above of 0.786 fib level which is good indication of recovery in the process. The chart is showing us Falling Wedge pattern and measured target for this pattern is around $660 - $700 levels. Upward movement is also supported by the bullish divergence which is known trend reversal pattern.
Volume is giving validity to the break out once it happens because without volume it has higher chance to fail and push price lower.
First resistance zone is good for taking partial of the profit and it's likely to have minor retrace from that area.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
Things to Remember:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
here's my long term view on ethereum:
The Market had strong move upwards from the support zone ($400 - $422 levels) and is already breaking above of 0.786 fib level which is good indication of recovery in the process. The chart is showing us Falling Wedge pattern and measured target for this pattern is around $660 - $700 levels. Upward movement is also supported by the bullish divergence which is known trend reversal pattern.
Volume is giving validity to the break out once it happens because without volume it has higher chance to fail and push price lower.
First resistance zone is good for taking partial of the profit and it's likely to have minor retrace from that area.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
