Hi All,
This is the bullish perspective and is probably the higher probability which is we are making the right shoulder.
Like ADA, ETH is one of those ALTs that are likely to give better returns than BTC.
It wont be long where ETH 2 will come to fruition
Right now, like BTC, I'm expecting some sideways range movement just below the main resistance.
its possible that there could be a spillover and we pullback to 0.5 fib level or deeper.
The least likely is to hit the bottom of the structure again.
My BTC paring targets are 2 as we have 2 areas of confluence based on the macro fib. retracement level and also price action areas of resistance and support.
If one notices, it also has confluence with the height of the head.
Patterns alone cannot be tructed, so looking at the Phoeix Daily, we are still bullish and hence why I say a ranging price area, symbolized by the ascending triangle (in grey).
The weekly chart also shows significant bullish signs, with the MACD, RSI and Phoeix. All good for the time being.
Please give me a like or tick for this post
Regards,
S.Sari
WEEKLY CHARTS: Indicators
2 Day volume profile
PREVIOUS POSTS
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Inverse H&S structure
This is the bullish perspective and is probably the higher probability which is we are making the right shoulder.
Like ADA, ETH is one of those ALTs that are likely to give better returns than BTC.
It wont be long where ETH 2 will come to fruition
Right now, like BTC, I'm expecting some sideways range movement just below the main resistance.
its possible that there could be a spillover and we pullback to 0.5 fib level or deeper.
The least likely is to hit the bottom of the structure again.
My BTC paring targets are 2 as we have 2 areas of confluence based on the macro fib. retracement level and also price action areas of resistance and support.
If one notices, it also has confluence with the height of the head.
Patterns alone cannot be tructed, so looking at the Phoeix Daily, we are still bullish and hence why I say a ranging price area, symbolized by the ascending triangle (in grey).
The weekly chart also shows significant bullish signs, with the MACD, RSI and Phoeix. All good for the time being.
Please give me a like or tick for this post
Regards,
S.Sari
WEEKLY CHARTS: Indicators
2 Day volume profile
PREVIOUS POSTS
=========================================================================
PREVIOUS POST
=========================================================================
Inverse H&S structure
Note
BTC break has caused a bearish div. on the smaller time frames. Need to keep watch as to how much of a divergence it will beNote
Chart update on the lower time framesTrade closed: target reached
Chart is now superceded by an updated chart
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.