Hello ETH traders, let's have a look at what happened since the last analysis guys:
=> We can clearly see, that we broke out of the EQ, but we're currently still grinding at the the previous support, which is currently resistance on the 4H.
Should the bulls push through, we could definitely see a move to the previous EQ range highs at 232, giving 7% profit potential:
On the Daily, the 232 would give us the 'Pullback High', which is basically the neckline of the potential Double Bottom, that we have to break. In this case, further upside into the 270ies is given, which would give another solid 16% profit potential. The bulls underline the Double Bottom through a Hammer on the Daily currently.
Obviously, as always the move depends on grandpa BTC.
In the direct correlation, the bulls upheld the 0.02 BTC and are about to break 0.022 BTC, which would give solid 5% strength towards BTC:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
=> We can clearly see, that we broke out of the EQ, but we're currently still grinding at the the previous support, which is currently resistance on the 4H.
Should the bulls push through, we could definitely see a move to the previous EQ range highs at 232, giving 7% profit potential:
On the Daily, the 232 would give us the 'Pullback High', which is basically the neckline of the potential Double Bottom, that we have to break. In this case, further upside into the 270ies is given, which would give another solid 16% profit potential. The bulls underline the Double Bottom through a Hammer on the Daily currently.
Obviously, as always the move depends on grandpa BTC.
In the direct correlation, the bulls upheld the 0.02 BTC and are about to break 0.022 BTC, which would give solid 5% strength towards BTC:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
