Hello Traders
Here is my analysis for Ethereum...
ETH is forming a Bear Flag. Right now it is still technically immature, however if it continues to follow the channel it has been trending between then soon enough a mature Bear Flag will form and the probability of a break to the downside greatly increases.
What is the next target for ETH?
- If the formation plays out like I think it will, ETH will hit $3,000 in the next week, maybe even days.
- $3K is a major level for ETH. It is not only a major support level with multiple strong touches, but it also coincides perfectly with the .5 Fib.
- Another factor (Although not as powerful) is that the bottom trend line ETH has been following for the past 10 days leads straight to the $3K level.
*There is enough confluence here to rate this target as a high probability of being hit.
What will happen when ETH hits the $3K level?
- I would expect a strong bounce.
I will make another post with a trade idea for a long position in the coming days.
Happy trading and best of luck.
Here is my analysis for Ethereum...
ETH is forming a Bear Flag. Right now it is still technically immature, however if it continues to follow the channel it has been trending between then soon enough a mature Bear Flag will form and the probability of a break to the downside greatly increases.
What is the next target for ETH?
- If the formation plays out like I think it will, ETH will hit $3,000 in the next week, maybe even days.
- $3K is a major level for ETH. It is not only a major support level with multiple strong touches, but it also coincides perfectly with the .5 Fib.
- Another factor (Although not as powerful) is that the bottom trend line ETH has been following for the past 10 days leads straight to the $3K level.
*There is enough confluence here to rate this target as a high probability of being hit.
What will happen when ETH hits the $3K level?
- I would expect a strong bounce.
I will make another post with a trade idea for a long position in the coming days.
Happy trading and best of luck.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.