Hey traders,
It's been one week exactly since my last ETH post, last week right at weekly close. There's been a lot of price action going on in ETH this past week so let's break it down.
ETH successfully closed over the $788 3-year valley formed in 2018 and has shot straight up like a rocket since doing so.
Looking at the daily chart, this move was formed all throughout 2020 with the initial bull market move starting on September 1st. The shakeout that happened after the August 28th pump was pure capitulation to shake out the weak hands before breaking through $470 and then $600 shortly after.
From here, ETH has hit the resistance levels of $812.50, $863, $916, and now is going to close the weekly over $975.99, all in the span of one daily candle.
Zooming out a bit, this is the 2nd candle of the three white soldiers pattern so i’m expecting another green day heading towards $1111 TP level.
I like that number, it looks nice. Also its a swing low created from the all time high in 2017 so its very significant and has been waiting to be hit for about 3 years now.
I know people are calling short down to $788, but realistically I don’t see that happening, especially not yet. It’s too soon and this pump should continue beyond $1000.
Right now going into the daily close, ETH is scratching the surface of hitting $1000, 4 digits again, and once this psychological level is broken it’s going to the moon. The FOMO is going to be unreal.
I believe we should see higher highs on ETH and these are my targets going long for this week:
TP1 🎯 $1111
TP2 🎯 $1221.94
I hope all of you had a great holidays and a happy new year, this is my 1st ETH analysis on TV of 2021. The best is yet to come! 🥂
It's been one week exactly since my last ETH post, last week right at weekly close. There's been a lot of price action going on in ETH this past week so let's break it down.
ETH successfully closed over the $788 3-year valley formed in 2018 and has shot straight up like a rocket since doing so.
Looking at the daily chart, this move was formed all throughout 2020 with the initial bull market move starting on September 1st. The shakeout that happened after the August 28th pump was pure capitulation to shake out the weak hands before breaking through $470 and then $600 shortly after.
From here, ETH has hit the resistance levels of $812.50, $863, $916, and now is going to close the weekly over $975.99, all in the span of one daily candle.
Zooming out a bit, this is the 2nd candle of the three white soldiers pattern so i’m expecting another green day heading towards $1111 TP level.
I like that number, it looks nice. Also its a swing low created from the all time high in 2017 so its very significant and has been waiting to be hit for about 3 years now.
I know people are calling short down to $788, but realistically I don’t see that happening, especially not yet. It’s too soon and this pump should continue beyond $1000.
Right now going into the daily close, ETH is scratching the surface of hitting $1000, 4 digits again, and once this psychological level is broken it’s going to the moon. The FOMO is going to be unreal.
I believe we should see higher highs on ETH and these are my targets going long for this week:
TP1 🎯 $1111
TP2 🎯 $1221.94
I hope all of you had a great holidays and a happy new year, this is my 1st ETH analysis on TV of 2021. The best is yet to come! 🥂
Comment:
TP1 🎯 $1111 hit to a tee overnight and 1st touch rejected, profits taken
