ETHXBT is about to cross the MACD and I think touch the RSI again. Ethereum is definitely going to touch the triangle at 2575 and will reach up to 2750, making a 6.7% LONG available. A possible break out may follow but I am unsure in what direction, that's why I opt pulling out in the 2750 area.
This is HPSF (High Probability Squeeze Funnel) where you get 3 Highs and 3 Lows and the market tightens in a channel after a major uptrend/downtrend. you already have a H1,H2 and L1,L2. It is likely that you will get an H3 and then an L3 at which point you buy and you can expect a huge run upward. These types of setups give you Risk/Rewards of at least 7/1 and sometimes even 11/1! This is not criticism, you did very good analysis I am simply pointing out a pattern very few people know and you can make a huge return trading it.
AndreasS
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Well thank you kindly! I didn't know about that! :)
AndreasS
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Would you recommend entering now or waiting for the L3? (Sorry I am very new to all of this, I try to take in as much as I can)