ETH / USD An uptrend. Potential fractal development.

Updated

The upward trend continues. In the previous trading idea, the reversal zone was eliminated by a short stop, the price did not go down to the uptrend line. Small corrective movement did not happen.

ETH / USD Secondary trend. U-turn zone. 444.

At the moment, a possible fractal can work, but it all depends on how the price behaves in the specified reversal zone.

In the main trend, if you include the weekly timeframe of the chart, then the price, after confirming the support of the mirror level, goes to the target of the double bottom. The goal is 240% of the mirror level, which is the $ 800-1000 zone.

ETH/USD Double Bottom. 1w. Past +65% +22% +70% + 22% +33%

I have been accompanying this secondary trend almost since its inception in March. Below are trading ideas and updates for each key move in this trend.

Note

from the reversal zone exactly to the level 482. And from it the squeeze is paid off. Potential fractal development remains, it all depends on how the situation is resolved on Monday. If, for example, a strong momentum occurs on BTC, then ETH may sink to the secondary trend line (bad scenario). Or even the option of keeping the price against the dollar in the BTC / ETH pair to the bottom of the horizontal channel. If there is no impulse. Money will flow to the TOP altcoins

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Trade closed: target reached

short work + 11%.

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Some similarity in the formation of the formation is still observed. At the moment, the local reversal zone. If we do not hold this zone, then the potential for a decline to the uptrend line in the region of $ 480. If we hold, the fractal will continue to form.

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ETH / USD symmetrical triangle 33%. U-turn zone. 15

Trade closed: target reached

+ 13% 1 the target was reached from the breakdown of the resistance of the triangle to the indicated level of 666. The price went a little higher as a shadow. A small local triangle is formed.21 Work towards a breakdown. If the breakdown is up, then we have every chance that this triangle will act as a canvas of a local upward pennant. If it breaks down, then a possible similar development as the last time of a similar formation highlighted on the chart. It is important that the local uptrend (white) is not broken and the price does not fix below it. At the moment, if you are not in position, it remains to wait for a denouement. Remember what event on ETH should happen on the 22nd at 22:22. Here you can come up with and implement both positive and negative "news" under the schedule.

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