Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the ETHUSD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
In HTF the market bounced on a strong resistance level in July 2022, and since then we could see a strong bullish impulse phase.
The market then, started a long correction, keeping anyway a bullish perspective.
In LTF, the last bearish impulse broke into the resistance level, but quickly reversing back, clue of a potential false breakout.
A new LTF bullish flag is currently forming, and it could lead to a potential further bullish movement.
When, where and why would we step into the market?
Before entering a long position on this market, we would get a confirmation by a breakout of the LTF structure, increasing the odds in our favour.
Considering the overall bias, we are confident to see a great movement to the upside. However, any breakout to the downside would invalidate the setup, and no action will be take on ETH.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
In HTF the market bounced on a strong resistance level in July 2022, and since then we could see a strong bullish impulse phase.
The market then, started a long correction, keeping anyway a bullish perspective.
In LTF, the last bearish impulse broke into the resistance level, but quickly reversing back, clue of a potential false breakout.
A new LTF bullish flag is currently forming, and it could lead to a potential further bullish movement.
When, where and why would we step into the market?
Before entering a long position on this market, we would get a confirmation by a breakout of the LTF structure, increasing the odds in our favour.
Considering the overall bias, we are confident to see a great movement to the upside. However, any breakout to the downside would invalidate the setup, and no action will be take on ETH.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
