Ethereum rose 40% from its bottom in just one week. The price broke the local top at $2,400, but it was a false break, after which the price corrected by 11%. The trendline formation is now clearly visible on the chart, Ethereum is approaching the local top again, at the same time we see traps, we can assume that the big players are trying to take out the sellers before going down.
If Ethereum makes a quick jump up, renews the local high, an additional good signal would be increased volume and then a false breakout, this would be a good selling opportunity.
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P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Comment
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✅#Ethereum, Triangle break out pattern. 2 scenarios.
yep, i have been waiting for the wick that triggers the stop orders as well. the big players are patient, so we must be as well. currently the price is hugging the bottom of a large broadening ascending wedge, with as you said, a couple of fakeouts breaching the support already. great analysis as always
ALIRSS
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GJ .Closing two 4-hour candles above 2400 completes the job and can advance up to 3000. Until then, we will see some correction.
Mihai_Iacob
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Looks good,thanks for the heads up
sriz16
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I dare you to short :D - we are pumping to 3333 soon . Period . Hindu nationalist brutal pumps programmed