Overview:
A potential bullish breakout from a falling wedge pattern, signaling a trend reversal.
Key Technical Insights:
🔹 Falling Wedge Formation:
Ethereum price has been trending downward inside a falling wedge, a common bullish reversal pattern.
The price is now testing the upper wedge resistance, indicating a possible breakout.
🔹 Support & Resistance Levels:
Support: Near 2,665 - 2,663 USD, acting as a strong downside cushion.
Resistance: The price needs to break above 2,694 USD to confirm the breakout.
🔹 Target Projection:
A breakout above the wedge could push the price up by 5.35% (144 USD) towards the 2,839 USD take-profit level.
Trade Plan:
📌 Entry Strategy:
Enter after confirmation of a breakout above 2,694 USD with volume.
A retest of the wedge breakout zone could provide a better risk-to-reward entry.
📌 Stop Loss:
Placed below 2,663 USD, invalidating the breakout if breached.
📌 Take Profit Target:
Around 2,839 USD, aligning with the measured move of the pattern.
Final Thoughts:
✅ Breakout potential is strong – wait for confirmation!
✅ Bullish momentum could drive ETH towards the 2,839 USD target.
✅ If price drops below 2,663 USD, consider exiting as the setup is invalidated.
📈 Watch for volume increase to confirm the breakout. 🚀
A potential bullish breakout from a falling wedge pattern, signaling a trend reversal.
Key Technical Insights:
🔹 Falling Wedge Formation:
Ethereum price has been trending downward inside a falling wedge, a common bullish reversal pattern.
The price is now testing the upper wedge resistance, indicating a possible breakout.
🔹 Support & Resistance Levels:
Support: Near 2,665 - 2,663 USD, acting as a strong downside cushion.
Resistance: The price needs to break above 2,694 USD to confirm the breakout.
🔹 Target Projection:
A breakout above the wedge could push the price up by 5.35% (144 USD) towards the 2,839 USD take-profit level.
Trade Plan:
📌 Entry Strategy:
Enter after confirmation of a breakout above 2,694 USD with volume.
A retest of the wedge breakout zone could provide a better risk-to-reward entry.
📌 Stop Loss:
Placed below 2,663 USD, invalidating the breakout if breached.
📌 Take Profit Target:
Around 2,839 USD, aligning with the measured move of the pattern.
Final Thoughts:
✅ Breakout potential is strong – wait for confirmation!
✅ Bullish momentum could drive ETH towards the 2,839 USD target.
✅ If price drops below 2,663 USD, consider exiting as the setup is invalidated.
📈 Watch for volume increase to confirm the breakout. 🚀
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❌ NO!
✅ You CAN and SHOULD make money in trading!
Join me, and I'll help you become a profitable trader 💵🚀
Join Me On TG: t.me/Pipsoptimizer
Free Signals: t.me/Pipsoptimizer
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.
🌹 Is Trading Just a Casino? 💔
❌ NO!
✅ You CAN and SHOULD make money in trading!
Join me, and I'll help you become a profitable trader 💵🚀
Join Me On TG: t.me/Pipsoptimizer
Free Signals: t.me/Pipsoptimizer
❌ NO!
✅ You CAN and SHOULD make money in trading!
Join me, and I'll help you become a profitable trader 💵🚀
Join Me On TG: t.me/Pipsoptimizer
Free Signals: t.me/Pipsoptimizer
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.