ETHEREUM BREAKING OUT.
Updated
Welcome members to this important update on ETH.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
ETH broke out of the trendline and currently showing some sign of retest. The chart looks good but somehow I am not convinced with this pattern. Things don’t fit into the picture. The chart looks bullish but the RSI is already in the overbought range. Also, we have resistance at 3.04k which will be important for ETH to break.
For a moment, if we skip the RSI and focus on the chart then I am expecting a retest here and then an attempt to break above the 3.04k resistance.
If this is just a fake-out to trap the noobs then the dump is going to be worse. So, let's keep an eye on the 2.8k to 3k level for now and if you have any leverage trades open then book your profits. If you are facing losses then keep your SL close.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this until then stay safe and trade well.
Thank you.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
ETH broke out of the trendline and currently showing some sign of retest. The chart looks good but somehow I am not convinced with this pattern. Things don’t fit into the picture. The chart looks bullish but the RSI is already in the overbought range. Also, we have resistance at 3.04k which will be important for ETH to break.
For a moment, if we skip the RSI and focus on the chart then I am expecting a retest here and then an attempt to break above the 3.04k resistance.
If this is just a fake-out to trap the noobs then the dump is going to be worse. So, let's keep an eye on the 2.8k to 3k level for now and if you have any leverage trades open then book your profits. If you are facing losses then keep your SL close.
Let me know what you think about this idea and if you like it then do share the link wherever you can. Let this idea reach as many traders as possible.
I will cover more on this until then stay safe and trade well.
Thank you.
Note
ETH is moving as expected. Let us be extra cautious here cause the chart shows bullish sentiment but the RSI doesn't.
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