Huge Ethereum LONG OPPORTUNITY - Bullish Ascending Triangle
Great long opportunity on Ethereum. Ascending triangle is close to fully breaking out, but like all ascending triangles it can also be invalidated. It's not over if it goes back into the triangle, but if it breaks down under support the trade is invalidated. Conversely ascending triangles can also break down out of the triangle, but reverse back up. I have placed a tight stop, but feel free to lower it SLIGHTLY if you don't want to get stopped out in that scenario. Also you can wait for the Stoch RSI to bottom out before taking the trade. You run the risk of missing out on profit in that scenario as it may stay above 75. Overall I am extremely bullish on ETH technically and fundamentally. Targets are at the respective 1.272, 1.414, and 1.618 fib extensions. If you're feeling ballsy throw a little leverage on this trade (1-5x).
Entry - $1435
Stop Loss - $1425
Target 1 - $1570
Target 2 - $1642
Target 3 - $1745
R/R T1 - 1.24
R/R T2 - 1.9
R/R T3 - 2.84
Entry - $1435
Stop Loss - $1425
Target 1 - $1570
Target 2 - $1642
Target 3 - $1745
R/R T1 - 1.24
R/R T2 - 1.9
R/R T3 - 2.84
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