Ethereum Bullish Flag: A High-Potential Setup!

Hi, traders. I’ve just taken this trade on Ethereum as I’m spotting a clear Bullish Flag pattern on the 1-hour timeframe. After a strong drop, the price started consolidating within this channel, respecting the trendlines.

My entry is at $2,620, anticipating a breakout to the upside. My initial target is around $2,932, which aligns with a key resistance level, and my stop loss is set at $2,598, just below the support zone, where the pattern would be invalidated.

The RSI is also supporting this setup, sitting around 40, indicating there’s still room for an upward move if the breakout happens.

Will this scenario play out? Let’s see! If you have any comments or want to share your analysis, feel free to drop them below. Good luck with your trades!

Disclaimer:
This is not financial advice. Trading involves risk, and you should only trade with money you can afford to lose. Always do your own analysis before entering any trades.