ETH: Next targets.
Hello traders and hodlers! It’s been a while since the last time we studied ETH, but here we go!
Ok, ETH passed through the $ 289, which was our main target since May (I believe), and now it is in a clear bull trend, doing ascending tops and bottoms. It defeated another resistance at $ 364 and it seems it found a support at its previous top, around $ 414.
Since we are in a bull trend, pullbacks are just opportunities to buy. Also, the volume increased a lot over the last month, which is a good indicator that this bull momentum is solid. Now, there are few things to keep in mind.
First, the recent candlesticks have some nice shadows under their bodies, showing us that there are people buying near this support level. And since the trend is bullish, any bullish candlestick pattern could trigger a long trade.
Second, if we see a pullback beyond the $ 414, that’s ok, it won’t be a reversal sign. In fact, it could hit the red line at $ 364 again without ruining the trend. This gets clearer when we look at the weekly chart:
Yes, the chart is a little stretched lately, but again, that’s what pullbacks are for. To give another chance for those who didn’t bought it before, to jump in a safer trade.
The 21 ema might be a support as well, but we can’t count on it. The trend is strong now, and we can set a target at $ 517.
But if you ask me, in the long run ETH has the potential to hit the $ 828 again. And, of course, please, support this idea! You wouldn't still be reading this if you didn't find it interesting, right? And I invite you to follow me for more analyses like this.
There's no clear sign on ETH, but the trend favors the bulls.
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
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. *
Ok, ETH passed through the $ 289, which was our main target since May (I believe), and now it is in a clear bull trend, doing ascending tops and bottoms. It defeated another resistance at $ 364 and it seems it found a support at its previous top, around $ 414.
Since we are in a bull trend, pullbacks are just opportunities to buy. Also, the volume increased a lot over the last month, which is a good indicator that this bull momentum is solid. Now, there are few things to keep in mind.
First, the recent candlesticks have some nice shadows under their bodies, showing us that there are people buying near this support level. And since the trend is bullish, any bullish candlestick pattern could trigger a long trade.
Second, if we see a pullback beyond the $ 414, that’s ok, it won’t be a reversal sign. In fact, it could hit the red line at $ 364 again without ruining the trend. This gets clearer when we look at the weekly chart:
Yes, the chart is a little stretched lately, but again, that’s what pullbacks are for. To give another chance for those who didn’t bought it before, to jump in a safer trade.
The 21 ema might be a support as well, but we can’t count on it. The trend is strong now, and we can set a target at $ 517.
But if you ask me, in the long run ETH has the potential to hit the $ 828 again. And, of course, please, support this idea! You wouldn't still be reading this if you didn't find it interesting, right? And I invite you to follow me for more analyses like this.
There's no clear sign on ETH, but the trend favors the bulls.
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
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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