Hello Community!
Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
Lets keep it simple.
When taking a look at ETH / USDT on the daily TF, we can see it trading in a massive parallel channel. After bouncing off the bottom of the channel, it made a strong move to close the previous day above the 9 EMA. This is a good sign of strength. An indecision candle has come into play based on the previous day, so it can fall and challenge the bottom of channel once again . If this does not play out then I can see it making another move to the top of the channel, challenging the previous ATH once again. Lets watch closely. ETH is currently trading very high and entering a long right now is very risky.
This is not Financial advice.
Safe Trading, Calculate Your Risk/Reward & Collect!!
Simplicity Wins
Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more!
Lets keep it simple.
When taking a look at ETH / USDT on the daily TF, we can see it trading in a massive parallel channel. After bouncing off the bottom of the channel, it made a strong move to close the previous day above the 9 EMA. This is a good sign of strength. An indecision candle has come into play based on the previous day, so it can fall and challenge the bottom of channel once again . If this does not play out then I can see it making another move to the top of the channel, challenging the previous ATH once again. Lets watch closely. ETH is currently trading very high and entering a long right now is very risky.
This is not Financial advice.
Safe Trading, Calculate Your Risk/Reward & Collect!!
Simplicity Wins