In this Daily timeframe, I show an interesting analysis that I found out in this perspective. Ethereum still strong in the support $1,264 USD. What bulls defending this level.
Ethereum forming this descending channel in Daily timeframe since August, 15, 2022 and it's making higher low and lower low forming this market structure. But now, I believe that the price it's in the good zone to accumulation showing this bullish channel flag in H4 timeframe that I found out.
And now, we could to see in the price action in Daily timeframe, specifically, that in 3 times we see a strong bullish signal. We see a bullish harami, a bullish doji Libelula and a bullish hammer. Those candlestick indicating bullish signal
Now, I re-entry to long position puting my buy order again in $1,296 USD and Stop Loss to $1,225. And my psycological target to $1,460 USD.
This it's a risk/benefit of 1:2.
Good Luck to long Ethereum!!!
Ethereum forming this descending channel in Daily timeframe since August, 15, 2022 and it's making higher low and lower low forming this market structure. But now, I believe that the price it's in the good zone to accumulation showing this bullish channel flag in H4 timeframe that I found out.
And now, we could to see in the price action in Daily timeframe, specifically, that in 3 times we see a strong bullish signal. We see a bullish harami, a bullish doji Libelula and a bullish hammer. Those candlestick indicating bullish signal
Now, I re-entry to long position puting my buy order again in $1,296 USD and Stop Loss to $1,225. And my psycological target to $1,460 USD.
This it's a risk/benefit of 1:2.
Good Luck to long Ethereum!!!
Trade closed: target reached
Ethereum hit my target profit to $1,460 USD. So, this analysis was pretty precise what I thought in long position in Ethereum and Bitcoin and get 8% in this trade. That was very good!!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.