ETH has broken the monthly trendline, so it should make a HL that's the point you must caught the best LONG opportunity. For Now, it is making a CUP & Handle pattern but I usually don't like these kind of patterns because they mostly get failed so the situation I'm thinking about "if the brown line which is daily trendline if that breaks short with 3x-5x and stop loss above the top wick!1st Scenario (only if you like patterns): CUP & Handle breakout retest - LONG
2nd Scenario (if you are using STEEL STEPS which I prefer the most): Daily trendline break - SHORT with 3x if you dont want to wait for LH. If you can wait for LH short with 5x - 10x
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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.