ETHUSD - 13RD MARCH 2021 - BULLISH FORMATION!!! WHAT'S NEXT?
ETHUSD
Price experience a pullback from our previous target of USD 1880. The strong resistance is forcing the price to pull back.
After pullback price are trading around 0.618 fib level of USD 1754.
Currently price still trading inside the ascending channel and supported by the support trendline.
Reasons to be bullish:
1) 4 hours TF golden cross 50MA and 200MA
2) Still inside the ascending triangle, well supported by the support trend line
3) Forming a bullish falling wedge patterns.
4) RSI 4 hours, daily TF flipping green (4hours is pending)
First level of resistance : USD 1800 - breaking out will bring us to second resistance level at USD 1880
The final resistance will be at USD 1980 - USD 2000.
Expecting USD 1980 - 2000 in this breakout.
Current price USD 1771
Expecting a weekend pump.
Analysis will be invalidated if any daily candle close below the ascending triangle support trendline.
Price experience a pullback from our previous target of USD 1880. The strong resistance is forcing the price to pull back.
After pullback price are trading around 0.618 fib level of USD 1754.
Currently price still trading inside the ascending channel and supported by the support trendline.
Reasons to be bullish:
1) 4 hours TF golden cross 50MA and 200MA
2) Still inside the ascending triangle, well supported by the support trend line
3) Forming a bullish falling wedge patterns.
4) RSI 4 hours, daily TF flipping green (4hours is pending)
First level of resistance : USD 1800 - breaking out will bring us to second resistance level at USD 1880
The final resistance will be at USD 1980 - USD 2000.
Expecting USD 1980 - 2000 in this breakout.
Current price USD 1771
Expecting a weekend pump.
Analysis will be invalidated if any daily candle close below the ascending triangle support trendline.
Note
Nice pump after breaking USD 1800, respecting the analysis, current price USD 1880
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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.
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.