We are looking here at the hourly chart of Ethereum.
We see here a Wolve Wave pattern with a target of aprox. 3250. This happens to be also the 50% retracement Fibonacci Level. So both targets are coming together. ETH formed also a negative divergence in the RSI so different signals for the same target. The false breakout of the 5th wave validates...
After reaching ATH, we might see a correction to the downside which is normal. if we broke this rising wedge then a 6% down is achievable. This scenario will give a good buy opportunity to join the bullish trend.
No confirmation yet! watching how price action plays.
There was a mini dump right now, I'm trying to buy its dip and surf until 3721.31, in a 3:1 risk/reward ratio trade.
Risk/reward ratio: 3:1
Disclaimer: I am a beginner learning how to trade.
i'm eyeing $3900 for the next ETH/USD target. i'm expecting resistance here due to a drop in buying pressure from leveraged traders. right around this level you can see 5x, 3x, and 2x leverage losing key support below their liquidation levels. i've learned that the margin trading degenerates have a great deal of influence on the market (this makes sense since...