ETH - That's BULL POWER!
Hello guys! Ok, the bulls reacted today! As I said in my last analysis (if you missed it, the link is below), the trend is still bullish, and if you are a hodler there’s nothing to worry.
Actually, it was just another opportunity for the bulls show their strength, as the bears tested the black line again, and failed in breakout below this point, and the price is doing a bullish pattern today! Let’s if it will close this way. Also, I think we can draw something like a flag, and the price already breakout from it and it did its natural pullback.
There’re some resistances here, and now the first challenge ETH has is to breakout the orange line at $ 216, which seems it’s going to happen. Now, the hourly chart:
The price found a support at the pink line and bounced back, struggled a little at the black line, as usual, and now it seems it’s searching for the green line. Let’s see if the bulls will find a resistance there! Also, if you’ve reached this far, remember to support this idea clicking on the like button, and I invite you to follow me to keep updated. Now the weekly chart:
After the price found a resistance at the 61.8% fib retracement, it dropped back to the 21 ema and now is resuming the bullish trend. If the fib retracement will be surpassed for good, we can set a target for ETH at its previous top, around $ 290 (pink line). What do you think? Is reasonable aim the $ 290 again? Leave a comment here!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Actually, it was just another opportunity for the bulls show their strength, as the bears tested the black line again, and failed in breakout below this point, and the price is doing a bullish pattern today! Let’s if it will close this way. Also, I think we can draw something like a flag, and the price already breakout from it and it did its natural pullback.
There’re some resistances here, and now the first challenge ETH has is to breakout the orange line at $ 216, which seems it’s going to happen. Now, the hourly chart:
The price found a support at the pink line and bounced back, struggled a little at the black line, as usual, and now it seems it’s searching for the green line. Let’s see if the bulls will find a resistance there! Also, if you’ve reached this far, remember to support this idea clicking on the like button, and I invite you to follow me to keep updated. Now the weekly chart:
After the price found a resistance at the 61.8% fib retracement, it dropped back to the 21 ema and now is resuming the bullish trend. If the fib retracement will be surpassed for good, we can set a target for ETH at its previous top, around $ 290 (pink line). What do you think? Is reasonable aim the $ 290 again? Leave a comment here!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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