Bull flag forming on ETH/USDT. Looking for an entry on the third touch point with a tight stop loss (small green arrow). To the price target of 4250 it would be a 4% move. The reason I'm bullish is ETH is oversold against BTC and could create a potential bounce, seen here with the RSI on ETH/BTC https://www.tradingview.com/x/0zeopowu/ The reason I will have a tight stop loss is the potential head and shoulders forming in the chart above. However, zooming out to the weekly of the same chart, previous resistance is being tested as support, which could also contribute to the bounce https://www.tradingview.com/x/b3YyFEUL/
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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.