ETHUSD - Waiting to see how this wave pattern completes
1 hour chart.
Strong support around $1730. RSI, MACD, and WTT are also starting to look favorable for a price increase.
Target is around $2030 (resistance), if the wave pattern completes and breaks strongly upward.
I'm hoping $1730 remains a local bottom and price continues to move sideways in the channel between current support and resistance.
I'll be trading with a stop loss, of course, as there is potential resistance provided by the near-term bearish trend line (shown in blue), as well as the longer-term bearish trend line (also in blue).
(Good luck, do your own research, and trade safely. I'm a complete amateur, so don't trade based on my ideas. I produce charts for my own education and entertainment. The ideas I present are not financial advice.)
Strong support around $1730. RSI, MACD, and WTT are also starting to look favorable for a price increase.
Target is around $2030 (resistance), if the wave pattern completes and breaks strongly upward.
I'm hoping $1730 remains a local bottom and price continues to move sideways in the channel between current support and resistance.
I'll be trading with a stop loss, of course, as there is potential resistance provided by the near-term bearish trend line (shown in blue), as well as the longer-term bearish trend line (also in blue).
(Good luck, do your own research, and trade safely. I'm a complete amateur, so don't trade based on my ideas. I produce charts for my own education and entertainment. The ideas I present are not financial advice.)
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