Evening Traders,
Today’s Analysis – ETHBTC – forming a potential bull flag above a key level, volume influx is needed for confirmation,
Points to consider,
- Trend bullish
- Confirmation of S/R Flip
- Bull Flag confluence ( .382 Fibonacci)
- RSI neutral
- Stochastics above 50
- Volume declining
ETHBTC's trend has been bullish, breaching a very key level with consolidation above structural resistance. A bull flag is likely forming, will be valid as long as the .382 Fibonacci holds which is in confluence with the now probable support upon a retest (S/R Flip).
The RSI is quite neutral sitting at 50; it does have a higher low projection using the trend line as a guide. Stochastics on the other hand is trading just above 50, indicating buy pressure coming in.
Volume is clearly low, an influx will be needed for a confirmation if a true bull flag and a continuation in the trend.
Overall, in my opinion, the .382 Fibonacci needs to hold which is aligned with the S/R flip. The technical target of the bull flag is aligned with local resistance.
What are your thoughts?
Please leave a like and comment,
And remember,
“I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement.” - Jesse Livermore
Today’s Analysis – ETHBTC – forming a potential bull flag above a key level, volume influx is needed for confirmation,
Points to consider,
- Trend bullish
- Confirmation of S/R Flip
- Bull Flag confluence ( .382 Fibonacci)
- RSI neutral
- Stochastics above 50
- Volume declining
ETHBTC's trend has been bullish, breaching a very key level with consolidation above structural resistance. A bull flag is likely forming, will be valid as long as the .382 Fibonacci holds which is in confluence with the now probable support upon a retest (S/R Flip).
The RSI is quite neutral sitting at 50; it does have a higher low projection using the trend line as a guide. Stochastics on the other hand is trading just above 50, indicating buy pressure coming in.
Volume is clearly low, an influx will be needed for a confirmation if a true bull flag and a continuation in the trend.
Overall, in my opinion, the .382 Fibonacci needs to hold which is aligned with the S/R flip. The technical target of the bull flag is aligned with local resistance.
What are your thoughts?
Please leave a like and comment,
And remember,
“I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement.” - Jesse Livermore
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.