ETHUSD How to open in this surge w/o high risk?/Bullish Pattern
BYBIT:ETHUSD
4H trend chart
-
Last time, we talked about that a Cup and Handle pattern is building in 1D chart of ETH(refer to my last analysis)
As expected, price spikes recently and is approaching all time high.
But, what if you didn't have any position of ETH, even you are so bull for it?
How can you do to experience this historical surge right now without high risk?
Here are some tips for you!
-
1. Handle is forming
Cup and Handle , a strong bullish signal, is forming, and its Handle is almost completed.
However, there are two challenges to finish the pattern, that price will eventually hit two previous highs 3679.9 and 4035.5
We realize previous highs stand for resistance zone , so it might not be easily taken out.
And instead, price will get consolidation when encounter these highs firstly.
Therefore, if you notice ETH stands firm on 3679.9 and 4035.5
=> Both are Great timing!
-
2. What should you notice?
With risk management, you shall always presume that price might get pullback.
From current chart, support zone is around 3200~3300, so remember to setup your stop loss before going.
-
3. Bullish Target?
With Fibonacci levels, I classified them into long-term and short-term targets we expect.
Short term:
a) 3962.15~4076.3---Fib(1.272~1.382)
b) 4321.2---Fib(1.618)
c) 4717.6---Fib(2)
Long-term:
a) 5422.30~5842.40----refer to last analysis
b) 8202.55----refer to last analysis
-
Let's see where ETH can bring us to!
Trading is a reflection of yourself, sometimes you need to take a step back to see more.
Learn more daily and Be ready for any opportunities daily.
Have a nice trading!
4H trend chart
-
Last time, we talked about that a Cup and Handle pattern is building in 1D chart of ETH(refer to my last analysis)
As expected, price spikes recently and is approaching all time high.
But, what if you didn't have any position of ETH, even you are so bull for it?
How can you do to experience this historical surge right now without high risk?
Here are some tips for you!
-
1. Handle is forming
Cup and Handle , a strong bullish signal, is forming, and its Handle is almost completed.
However, there are two challenges to finish the pattern, that price will eventually hit two previous highs 3679.9 and 4035.5
We realize previous highs stand for resistance zone , so it might not be easily taken out.
And instead, price will get consolidation when encounter these highs firstly.
Therefore, if you notice ETH stands firm on 3679.9 and 4035.5
=> Both are Great timing!
-
2. What should you notice?
With risk management, you shall always presume that price might get pullback.
From current chart, support zone is around 3200~3300, so remember to setup your stop loss before going.
-
3. Bullish Target?
With Fibonacci levels, I classified them into long-term and short-term targets we expect.
Short term:
a) 3962.15~4076.3---Fib(1.272~1.382)
b) 4321.2---Fib(1.618)
c) 4717.6---Fib(2)
Long-term:
a) 5422.30~5842.40----refer to last analysis
b) 8202.55----refer to last analysis
-
Let's see where ETH can bring us to!
Trading is a reflection of yourself, sometimes you need to take a step back to see more.
Learn more daily and Be ready for any opportunities daily.
Have a nice trading!
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🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
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