ETH/USD is currently at a point for a good Long entry.
Reasons:
1. Prices have hit the bottom of the falling wedge, which is generally considered a bullish pattern. It's a good Risk/Reward setup right now. A stop could be set around $160-$170.
2. We see bullish divergence on the Daily RSI.
3. We've had multiple days of selloff with an increase in volume, some sort of bounce is likely - even if it's just to the top of the wedge.
4. We're oversold on almost every timeframe, expect 1W upwards.
5. Running a Fib-Extension, we're exactly at the 0.618 support level.
Profit Targets:
• A good profit target would be right around prior support zones (~$300 + ~$400), if we can break out of the wedge.
Reasons:
1. Prices have hit the bottom of the falling wedge, which is generally considered a bullish pattern. It's a good Risk/Reward setup right now. A stop could be set around $160-$170.
2. We see bullish divergence on the Daily RSI.
3. We've had multiple days of selloff with an increase in volume, some sort of bounce is likely - even if it's just to the top of the wedge.
4. We're oversold on almost every timeframe, expect 1W upwards.
5. Running a Fib-Extension, we're exactly at the 0.618 support level.
Profit Targets:
• A good profit target would be right around prior support zones (~$300 + ~$400), if we can break out of the wedge.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.