ETH Long 12 Hr - July 24, 2021
Bullish Descending Triangle Reversal Opportunity - Break of trendline, and decreasing volume on pullback.
Disclaimer: This is not financial advice and is only for educational purposes. Always use your own analysis when making a trade. Cheers!
Price has been consolidating in a descending triangle formation. The sellers have steadily been harder and harder to find, and the market movers have slowly been accumulating their positions in my opinion.
This is a medium risk trade.
Waiting for break of the descending trendline. The Fib lines make nice target areas. I will watch as we approach those levels to see what the reactions will be on a smaller timeframe. 30 min, hourly
Targets 1 and 2 are higher probability in the near term, 3 and 4 will take some time and good news in the market space. It seems to me a lot of the FUD is dying out and we are starting to see some more positive news coverage. Usually a sign that the market makers want us to believe in crypto again and go into a buying frenzy. We'll see what happens.
Disclaimer: This is not financial advice and is only for educational purposes. Always use your own analysis when making a trade. Cheers!
Price has been consolidating in a descending triangle formation. The sellers have steadily been harder and harder to find, and the market movers have slowly been accumulating their positions in my opinion.
This is a medium risk trade.
Waiting for break of the descending trendline. The Fib lines make nice target areas. I will watch as we approach those levels to see what the reactions will be on a smaller timeframe. 30 min, hourly
Targets 1 and 2 are higher probability in the near term, 3 and 4 will take some time and good news in the market space. It seems to me a lot of the FUD is dying out and we are starting to see some more positive news coverage. Usually a sign that the market makers want us to believe in crypto again and go into a buying frenzy. We'll see what happens.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.