There is a fantastic, high quality flag pattern that has formed in Ethereum. I just posted a video about the morning star and pinbar bullish setups in the daily candles and now we can see a strong bullish flag pattern in the hourly chart. This is creating a confluence of signals that all are pointing to a bullish breakout. If the breakout occurs it could set up ETHUSD for a 400-500$ run. Place a 100$ stoploss would offer a very attractive 1:4 or 1:5 Risk/Reward setup.
Note
The first video
Note
I just posted a video of a very bearish setup on BTCUSD. If you are long or wanting to get long just beware since a crash in Bitcoin will pull Ethereum down with it.
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.