ETH on a very important weekly structure
Updated
hello guys hope you are doing well
this is my first idea on tradingview
.
ETH broke 250$ area and confirmed cup and handle pattern with 417$ target and target is reached
we are on a very important weekly structure
it is possible to retrace to 20 to 30 % from here but i think one last pump left to liquidate shorts and trap longs one more time and and then price can retrace
indicators are very overbought specially on daily time frame every one is super bullish and extremely greedy
.
.
.
conditions for change:
if we push above this level on weekly and keep it as support that would be a huge bullish signal that could lead us to new all time highs
this is my first idea on tradingview
.
ETH broke 250$ area and confirmed cup and handle pattern with 417$ target and target is reached
we are on a very important weekly structure
it is possible to retrace to 20 to 30 % from here but i think one last pump left to liquidate shorts and trap longs one more time and and then price can retrace
indicators are very overbought specially on daily time frame every one is super bullish and extremely greedy
.
.
.
conditions for change:
if we push above this level on weekly and keep it as support that would be a huge bullish signal that could lead us to new all time highs
Note
RSI on 3d chart is very overbought
price is above Bollinger band about 25% of it's width
same thing for weekly chart too
Note
last time we had a red candle
price had 23% correction in 10 days
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