4h time frame
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ETH hit the resistance from downtrend line which is the top of a falling channel. ETH stays longer than previous times it reached this downtrend line, this is a sign shows comparable strong information. Therefore, ETH has high possibility to break out this channel, and we can have higher target like 2000 and 2200 if break above the structure. Also, ETH get a support at 0.618 Fibonacci Projection and keep consolidating, this is clear for setting SL.
TP: 1880 / 2000 / 2200
SL: 1735
-
ETH hit the resistance from downtrend line which is the top of a falling channel. ETH stays longer than previous times it reached this downtrend line, this is a sign shows comparable strong information. Therefore, ETH has high possibility to break out this channel, and we can have higher target like 2000 and 2200 if break above the structure. Also, ETH get a support at 0.618 Fibonacci Projection and keep consolidating, this is clear for setting SL.
TP: 1880 / 2000 / 2200
SL: 1735
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→Join Teaching Group for free!(PM me)