Analysis of Ethereum against the dollar.
Ethereum showed a good show of strength from the bulls as the asset broke and returned to an important support level at $3,540, characterizing an important beartrap.
I am opening a long position with a target at the next important resistance at $3,991 and stop just bellow the last botton in $3488.
Reasons to buy:
1 - Beartrap at an important support level.
2 - Good risk/reward ratio.
Don't forget to always practice good risk management and do your own analysis.
For more analyses like these, follow me on Tradingview.
I am opening a long position with a target at the next important resistance at $3,991 and stop just bellow the last botton in $3488.
Reasons to buy:
1 - Beartrap at an important support level.
2 - Good risk/reward ratio.
Don't forget to always practice good risk management and do your own analysis.
For more analyses like these, follow me on Tradingview.
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.