๐ข $ETH / $USDT | ๐ข LONG | โญ 65.9%
๐ฏ Goal: $2,522.40. Will it achieve it?
๐ฏ Trading levels:
๐ข Entry: $2,485.79
๐ Stop Loss: $2,463.82
๐ TP1: $2,522.40
๐ TP2: $2,529.72
๐ TP3: $2,544.36
๐ Analysis:
The market structure in $ETH shows a bullish alignment across multiple timeframes, supported by an ADX of 34.74 confirming a strong trend. The momentum is evident after the bullish MACD cross (an indicator that measures the strength and direction of the trend) and an RSI at 64.66, reflecting healthy buying pressure before reaching overbought levels. The technical confluence is reinforced by the formation of an inverted head-and-shoulders pattern and a triple bottomโpatterns that suggest supply exhaustion near the immediate support.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 4/5
The bullish thesis is invalidated below the stop loss level, the zone where the support structure would lose technical relevance. We will monitor the breakout volume at entry to confirm the definitive break above the resistance located at $2,529.42.
Do you think the current volume is enough to confirm the triple bottom pattern breakout?
๐ก This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #ETH #trading #Futures #Bullish
๐ฏ Goal: $2,522.40. Will it achieve it?
๐ฏ Trading levels:
๐ข Entry: $2,485.79
๐ Stop Loss: $2,463.82
๐ TP1: $2,522.40
๐ TP2: $2,529.72
๐ TP3: $2,544.36
๐ Analysis:
The market structure in $ETH shows a bullish alignment across multiple timeframes, supported by an ADX of 34.74 confirming a strong trend. The momentum is evident after the bullish MACD cross (an indicator that measures the strength and direction of the trend) and an RSI at 64.66, reflecting healthy buying pressure before reaching overbought levels. The technical confluence is reinforced by the formation of an inverted head-and-shoulders pattern and a triple bottomโpatterns that suggest supply exhaustion near the immediate support.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 4/5
The bullish thesis is invalidated below the stop loss level, the zone where the support structure would lose technical relevance. We will monitor the breakout volume at entry to confirm the definitive break above the resistance located at $2,529.42.
Do you think the current volume is enough to confirm the triple bottom pattern breakout?
๐ก This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #ETH #trading #Futures #Bullish
