ETH - Fly, like an eagle!
I said in my last ETH analysis that if the price close above the black line, would be very good, but if it closes above the yellow line, would be perfect. And now ETH is doing exactly what would be a perfect scenario. I said that it could close above the yellow line in the next days, and if you missed my last ETH analysis the link to it is below. Also, I invite you to follow me to keep n touch with my trades and analyses.
Now, let’s see if until the end of this day the bulls will manage to keep the price up, and if that’s the case, the bears will have some problems. You may be asking, why I give so much emphasis in this yellow line, and that’s simple. If the price close above it, ETH will frustrate the bearish pivot it did recently, evidenced by the orange lines.
Now, let’s see the hourly chart as usual:
ETH is trading above the yellow line right now, let’s see the outcome of this battle! Also, it’s trading above the 21 ema, another good sign, and the next challenge will be the black line (although I don’t think it’s too important, maybe I’ll erase it later), and the purple trendline. Then, we will see if ETH will fly again.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Now, let’s see if until the end of this day the bulls will manage to keep the price up, and if that’s the case, the bears will have some problems. You may be asking, why I give so much emphasis in this yellow line, and that’s simple. If the price close above it, ETH will frustrate the bearish pivot it did recently, evidenced by the orange lines.
Now, let’s see the hourly chart as usual:
ETH is trading above the yellow line right now, let’s see the outcome of this battle! Also, it’s trading above the 21 ema, another good sign, and the next challenge will be the black line (although I don’t think it’s too important, maybe I’ll erase it later), and the purple trendline. Then, we will see if ETH will fly again.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.