ETH looking prime for a huge breakout trade double digit % gain
On weekly its consolidating constructively near a breakout zone of interest going back to 2021. Having about 7 interactions with this level over the years
We can use daily and lower timeframes for entry. Daily got a nice little triangle at the end of its life and soon to break. Breakupwards may signal, the Huge weekly move. A laggard play to BTC. Easy stop if we breakdown the D triangle
recently ETH has been dipping to the golden pocket (061-065) area and bought up there. Might be a good dip buy if you wanted to get in, whilst we are still in the daily triangle
ETHBTC needs to get over weekly EMA12 resistance for the first time in 5-6 months. thats what ETH bulls want. The ETH/BTC has been struggling this whole year. But has recently bounced from an important weekly support level ~0.05
obviosuly BTC has been leading expecially due to the ETF expectations. I wonder what could be the ETH trigger fundamentally :thinking_face:
or will it be just a TA move only
Any news coming up?? for I think their scaling uprotocol upgrade is scheduled for March 2024
bear case check in: breakdown from the daily triangle down and downtrend to test all the way at the weekly support trendline about ~1800.
So have your stops in!
We can use daily and lower timeframes for entry. Daily got a nice little triangle at the end of its life and soon to break. Breakupwards may signal, the Huge weekly move. A laggard play to BTC. Easy stop if we breakdown the D triangle
recently ETH has been dipping to the golden pocket (061-065) area and bought up there. Might be a good dip buy if you wanted to get in, whilst we are still in the daily triangle
ETHBTC needs to get over weekly EMA12 resistance for the first time in 5-6 months. thats what ETH bulls want. The ETH/BTC has been struggling this whole year. But has recently bounced from an important weekly support level ~0.05
obviosuly BTC has been leading expecially due to the ETF expectations. I wonder what could be the ETH trigger fundamentally :thinking_face:
or will it be just a TA move only
Any news coming up?? for I think their scaling uprotocol upgrade is scheduled for March 2024
bear case check in: breakdown from the daily triangle down and downtrend to test all the way at the weekly support trendline about ~1800.
So have your stops in!
Stop loss in