Multi-Month Ascending Triangle Coming to an End
Much like Bitcoin during the 2018/2019 bottom, this Ethereum consolidation has repeatedly formed bullish reversal chart patterns on lower timeframes. Together, these patterns have also drawn a large ascending triangle which has had a series of higher lows and a horizontal resistance zone. Volume during this consolidation has also declined throughout, with the exception of event driven volume around the FTX debacle.
Entry: breakout trade above the horizontal resistance (>2k), on volume
Exit: measured move and fib extensions based on depth of pattern (2.7k-3.0k)
Stoploss: any lower lows below the current local low (<$1630)
Entry & Exit levels can also be simplified using the yearly pivots
Entry = > nearest pivot
Exit = R1 Pivot
Additionally, high timeframe Ichimoku Cloud shows a pending Kumo breakout possible over the next month. The Kijun also acts as a stop loss level for any active long.
Entry: breakout trade above the horizontal resistance (>2k), on volume
Exit: measured move and fib extensions based on depth of pattern (2.7k-3.0k)
Stoploss: any lower lows below the current local low (<$1630)
Entry & Exit levels can also be simplified using the yearly pivots
Entry = > nearest pivot
Exit = R1 Pivot
Additionally, high timeframe Ichimoku Cloud shows a pending Kumo breakout possible over the next month. The Kijun also acts as a stop loss level for any active long.
註釋
Other non-technical factors to consider:1. regulatory attitudes toward ETH and staking in the US
2. institutional tradfi product approvals post-ETH regulatory clarity
3. exchange outflows and staked ETH inflows
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。