An impressive move!
Hello investors! We discussed a lot last week about how the trend is very bullish here, and I said the $ 252 was a very optimistic, but realistic target to aim. When ETH was around $ 200 some thought I was too optimistic, I even heard people calling for short trades, but now $ 252 don’t seem unrealistic, right?
Also, remember to follow me to keep in touch with my analyses.
Now we see an inverted H&S pattern here, with a neckline around $ 242. If triggered, is very likely ETH will hit the $ 252 again. Let’s take a look at the daily chart, for a better perspective:
The volume is starting to finally increase, and it’s trading above all its supports, namely the pink and yellow lines, the 21 ema and the purple trendline. Everything seems very bullish from here too! And what’s more interesting, a pullback wouldn’t be scary at all, and I can see the price dropping all the way back to the 21 ema or the trendline without ruining the bull trend. The $ 252 is our main challenge here. Now, there’s an interesting thing on the weekly chart:
ETH is trading above the 21 ema and the 61.8% fib retracement, and more important, it triggered a pivot last week. For the long run, we can set a target at $ 290 for ETH! But, for now, let’s focus on our first challenge, ok? Road to $ 252!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Also, remember to follow me to keep in touch with my analyses.
Now we see an inverted H&S pattern here, with a neckline around $ 242. If triggered, is very likely ETH will hit the $ 252 again. Let’s take a look at the daily chart, for a better perspective:
The volume is starting to finally increase, and it’s trading above all its supports, namely the pink and yellow lines, the 21 ema and the purple trendline. Everything seems very bullish from here too! And what’s more interesting, a pullback wouldn’t be scary at all, and I can see the price dropping all the way back to the 21 ema or the trendline without ruining the bull trend. The $ 252 is our main challenge here. Now, there’s an interesting thing on the weekly chart:
ETH is trading above the 21 ema and the 61.8% fib retracement, and more important, it triggered a pivot last week. For the long run, we can set a target at $ 290 for ETH! But, for now, let’s focus on our first challenge, ok? Road to $ 252!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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