Ethereum can make small correction, and then continue to growHello traders, I want share with you my opinion about Ethereum. By observing the chart, we can see that the price a few time ago rose to the mirror line and then bounced and started to decline near this line. Firstly declined to the seller zone, which coincided with the 2480 resistance level, and in a short time broke this level, after which even rose higher than the mirror line, but later fell back to this line. Next, ETH tried to break this line again, but failed and fell lower than the 2240 support level to the buyer zone. Ethereum some time traded in this zone, after which it broke the mirror line with the support level and later started to grow inside the upward channel. In this channel, the price little rose, after which made a correction to the support level and then rebounded up to the resistance line of the channel. But a not long time ago ETH turned around and in a short time fell to the 2240 support level, where continues to trades near now. In my mind, Ethereum can fall to the support level, after which turns around and starts to move up in an upward channel. For this case, I set my target at the 2355 level. Please share this idea with your friends and click Boost 🚀
Mirrorlevel
USDCHF - Double-Top-Break successfully retestedHi Traders!
The market is in an Uptrend, but a bearish Pullback is expected.
After the Upmovement and the (purple) Triangle, we had a Double Top pattern.
This pattern was around (not close, but still near) the area of the weekly Trendline.
When we have a Double Top Pattern, we usually define the Support as the "Neckline".
This Neckline got broken too and with the Pullback, it got retested.
The Neckline could also be seen as a "Mirror Level" now, because the market respects the Level
both as a Support and a Resistance.
Since the Double Top formation, we have movements which can now be seen as a descending Parallel Channel.
The Target is the next Resistance from where the marekt could turn bullish.
If you have any questions, please just ask in the comment section or privately.
Thanks and successful Trading :-)!
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