ETHEREUM PERSONAL ANALYSIS IN THE SHORT TERM (ASCENDING MY BANK)
Updated
The total evaluation for the Ethereum asset is bearish. Please be mindful of your risk management as always, this is number 1 -- even if you are the most amazing and colorful technical analyst with all those patterns and whatever, all of it are crap in the face of no risk management, in short you might as well be no different to wallstreet redditors. The asset as show in the chart has made a very convincing ascending line of triangle with continuous rejections on the 1620$ region. A breakthrough above 1620$ is very possible at this point and would potentially even reach a max level of 1720$ before dumping for a retest. To add for a further confirmation that this ascending triangle is valid is because we came from a triple bottom from BTC around 19,500-19,800$
The retest can be two things:
Please do not consider this as your edge towards your mega bullishness, the markets in both forex and crypto are still in a bear trend, a macro bear trend. This is just one of those mini-bull price action that will often reflect itself on the weekly as a higher low. Do you like this chart? Save it then! Comment on it, share it, boost it, bookmark it -- its yours! For free!
The retest can be two things:
- Either it breaks down and it was indeed a falling wedge now.
- It continues to be a rising wedge.
Please do not consider this as your edge towards your mega bullishness, the markets in both forex and crypto are still in a bear trend, a macro bear trend. This is just one of those mini-bull price action that will often reflect itself on the weekly as a higher low. Do you like this chart? Save it then! Comment on it, share it, boost it, bookmark it -- its yours! For free!
Trade closed manually
Validated pattern, 1620$ was reached and took profit.Trade active
Position opened at 1572$ ETH to take profit at 1630-1680$ on trail profits.Trade closed manually
Price reached. Trading this chart has been successful.
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