ETH is consolidating as presumed, and left a long tail at neckline which I marked on last post(link as below)
- During this period of consolidation, it retested the support zone many times and formed a short-term downtrend line on 4H chart. So we can presume this support level works. - For Aggressive traders You can take entry while this downtrend line broken out or price retested the neckline again.
For Conservative traders Keeps waiting till price stands firm at $4035.59(which is the completion of Handle pattern) - Targets As our setup Profit targets: a) 4035.5----Fib(1) b) 4666.45~4921.65----Fib(1.272~1.382) c) 6355.25----Fib(2) Anyway, never forget to control your risk - Let's see where ETH can bring us to! - If you like this analysis, give it a like and leave a comment below to share your thoughts or let me know what crypto you want to see!
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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.