EthereumLong
ETHUSD Long to $1,400 - $1,420
Updated
TA:
ETH 12H has overcome the KC middle and is now in the upper KC channel.
ETH 12H remains in a TTM Squeeze with price action very choppy on sub-12H timeframes indicating large pressure continues to build-up. Imagine a spring being compressed at both ends. Currently, at the time of publishing this idea, the TTM Squeeze histogram is showing upward momentum (lime green). However, due to the choppiness on the lower timeframes, this has been flickering.
ETH 12H CCI showing over 100, which indicates breakout has started on 12H timeframe. If the 12H can close with the breakout to confirm, then we would look for upward pressure release to the upper KC band.
ETH 12H DB Vix Fix shows that ETH survived a VF death cross in the last bar, which further proves the pressure built up so far in price action.
ETH 12H DB Scored KCBB%D TTM MACD STOCH VF Combo currently shows a
buy a score of 4 and a sell score of -1 with a net score of 3 (bullish)
ETH 12H has overcome the KC middle and is now in the upper KC channel.
ETH 12H remains in a TTM Squeeze with price action very choppy on sub-12H timeframes indicating large pressure continues to build-up. Imagine a spring being compressed at both ends. Currently, at the time of publishing this idea, the TTM Squeeze histogram is showing upward momentum (lime green). However, due to the choppiness on the lower timeframes, this has been flickering.
ETH 12H CCI showing over 100, which indicates breakout has started on 12H timeframe. If the 12H can close with the breakout to confirm, then we would look for upward pressure release to the upper KC band.
ETH 12H DB Vix Fix shows that ETH survived a VF death cross in the last bar, which further proves the pressure built up so far in price action.
ETH 12H DB Scored KCBB%D TTM MACD STOCH VF Combo currently shows a
buy a score of 4 and a sell score of -1 with a net score of 3 (bullish)
Note
IMO - Risk is high here due to TTM Squeeze. Breakeven stop loss is recommended.Note
Something to consider is that $1,400 may be a safer target. The Upper KC band on 12H is $1,440. The Upper 6H band is $1,400. The last upward high was KC top on 6H. That's all for now!
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