The big boys will be taking liquidity anytime soon so if you are late to the party dont buy yet. Dont FOMO!!
ANALYSIS
Its is a big ascending triangle that I believe will break to the upside. However, it is evident, and for some reasons, liquidity has to be taken for the price to move faster and mostly go the other way when taken.
ETH just took the buy-side liquidity(BSL) with today's surge, so a bearish move is expected. This will break the long-term ascending triangle (line 1) to mitigate the Order Block below the sell-side internal liquidity(SSL). Only then I believe, we can break the big ascending triangle(line1). I don't think we can break the triangle to the upside without taking any liquidity.
The bullish Order Block is valid because it took liquidity and break the bit ascending triangles.
Buy 1444
TP 1 2140
TP 2 2720
Set stop lost and apply risk management accordingly.
NB: This is not a financial advice.
ANALYSIS
Its is a big ascending triangle that I believe will break to the upside. However, it is evident, and for some reasons, liquidity has to be taken for the price to move faster and mostly go the other way when taken.
ETH just took the buy-side liquidity(BSL) with today's surge, so a bearish move is expected. This will break the long-term ascending triangle (line 1) to mitigate the Order Block below the sell-side internal liquidity(SSL). Only then I believe, we can break the big ascending triangle(line1). I don't think we can break the triangle to the upside without taking any liquidity.
The bullish Order Block is valid because it took liquidity and break the bit ascending triangles.
Buy 1444
TP 1 2140
TP 2 2720
Set stop lost and apply risk management accordingly.
NB: This is not a financial advice.