ETHEREUM Short Term Relief Rally
Updated
Hello Traders and Investors,
If you seen my previous post, it was bearish scenario. But if you read the post as well, I notated that the bearish move won't happen unless a lower low is set in. However, so far we are still making a higher lows and is setting up the head and shoulder pattern. This pattern suggest we will head to 1600-1700 as the price target. This target is right at previous support and can become a great spot to take some profits.
To trade this, I am waiting for the 1280 resistance to break on the 4 hours before entering a long.
Let me know what you think.
If you seen my previous post, it was bearish scenario. But if you read the post as well, I notated that the bearish move won't happen unless a lower low is set in. However, so far we are still making a higher lows and is setting up the head and shoulder pattern. This pattern suggest we will head to 1600-1700 as the price target. This target is right at previous support and can become a great spot to take some profits.
To trade this, I am waiting for the 1280 resistance to break on the 4 hours before entering a long.
Let me know what you think.
Trade active
It is good to take profits now as the minimum target has been reached. These setup usually ends up falling back to the break out, which is 1280 usd.
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