ETHUSD We are approaching to the end of Handle!/Trading Strategy
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BYBIT:ETHUSD Left: 1H trend chart Right: 1D trend chart - 1. Cup and Handle pattern We have been talking about a strong bullish pattern is forming for ETH since 2020 Dec. Currently, we're at the phase of building handle. Also, price is very close to previous high($3679.9) on 10/8, But it eventually didn't hit it, and then get a correction after touching $3675 An appropriate correction is better for bullish pattern formation. Obviously, a downtrend line occurred during this correction, and it has been broken out before. However, price got pullback presently and left a tail after breaking down this downtrend line. Now, price has rallied back to the trend line, which is a bullish signal.
Therefore, I provide 2 kinds of open timing for conservative and aggressive traders, respectively. - 2. Timing Conservative traders Just wait for the break-out of $3679.9 and confirm the price stands firm on it or not. Aggressive traders: Anytime you notice that price hit downtrend line and then rally rapidly. or If we encounter a strong pullback, you can open position around $3200, which is a corresponding and symmetric low of handle pattern. - 3. Trading Strategy Profit targets: a) 4035.5----Fib(1) b) 4666.45~4921.65----Fib(1.272~1.382) c) 6355.25----Fib(2) Anyway, never forget to control your risk - Let's see where ETH can bring us to! - If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity. Have a nice trading!
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.