ETHUSD Potential for Bullish Continuation| 16th August 2022On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the buy entry at 1916.72 where the pullback support and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken entry structure, we would expect bullish momentum to carry price to take profit at 2015.54 where the swing high resistance is. Alternatively, price could drop to stop loss at 1792.30 where the overlap support, 38.2% fibonacci retracement and 100% fibonacci projection are.
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