ETHUSDT1H trend chart
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ETH is forming an inverse head and shoulders pattern on 1H.
And there is a downtrend line giving resistance for price.
If price can overcome the downtrend line, we can open long and follow trading strategy as below.
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Profit Targets:
a) 2647.3----Fib(1)
b) 2702.95~2725.45----Fib(1.272~1.382)
c) 2749.6----Fib(1.5)
Stop losses:
a) 2524.45----Red horizontal ray
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Surely, I shared an idea about ETH before, and took entry with Vegas tunnel strategy. You can keep following it if you're already in.
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