- ETH needs to break above the neckline and resistance of 1930 USD.
- Today’s (June 30th) daily candle shows a displacement to the upside with volume.
- The high volume and the wide price range gives me some confidence that this is a markup and the consolidation phase is finished.
- Ideally, we should also get a retest of the 1930 USD level as support.
- The target of the Inverse Head and Shoulders is 2260 USD.
- Pay attention to the resistance at 2100 USD and maybe take some off the table at that level.
Trade Idea:
- Entry: 1930 USD (After retest as support)
- SL: 1805
- Target: 2260
- TP: 2100, 2260 USD.
- R: R: 2.6
If you read my previous ETH ideas, you know that I expect more from ETH.
NFA
What do you think? Please share in the comments.
Best Wishes.
The only encouraging sign is the hidden bullish divergence on the daily.