ETH About to Break HUGE MAJOR Resistance
Updated
As you can see on the chart, we have very very strong downtrend resistance level.
However, if you look close to previous resistance touch points, you can see that whenever Green candle touched resistance, the next 2 Candles were Red which told us that there was not enough power to break the resistance and bears were acting strong. But things changed!
* Right now, Green candle Touched Resistance, followed by Red candle as always, BUT third candle is GREEN. Which means that bears do not have any more power to bring the price down!
* MACD Positive Divergence and about to cross for uptrend
* RSI is Bullish
* If the daily candle will close bullish, it will a hint for a breakout
* ICHIMOKU Cloud is very thin which means that it will be very easy to break
* 9 and 24 day MAs are ready to start going uptrend,
Entry Level: 0.052
TP1: 0.062
TP2: 0.070
TP3: 0.077
TP4: 0.085
TP5: new ATH : 0.108!
However, if you look close to previous resistance touch points, you can see that whenever Green candle touched resistance, the next 2 Candles were Red which told us that there was not enough power to break the resistance and bears were acting strong. But things changed!
* Right now, Green candle Touched Resistance, followed by Red candle as always, BUT third candle is GREEN. Which means that bears do not have any more power to bring the price down!
* MACD Positive Divergence and about to cross for uptrend
* RSI is Bullish
* If the daily candle will close bullish, it will a hint for a breakout
* ICHIMOKU Cloud is very thin which means that it will be very easy to break
* 9 and 24 day MAs are ready to start going uptrend,
Entry Level: 0.052
TP1: 0.062
TP2: 0.070
TP3: 0.077
TP4: 0.085
TP5: new ATH : 0.108!
Trade active
Finally, the resistance is broken and fixed above!
We also have upcoming fork in the mid of January.
I think we are on a trip to target points right now.
However, expect few consolidation periods.
Set your stop losses to 0.042
Trade active
TP 1 Reached...Next stop is 0.07
Uptrend is confirmed, so all to do right now is wait
Trade closed: target reached
All of the 4 Target points are reached.I am not waiting for ATH and getting off from this trade.
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.