ETH 📢
We know that ETH often follows its older brother BTC. Additionally, we are aware that institutional investors are legally trading this asset right now, thanks to the SEC approving an ETF for it. Therefore, it is highly likely that in the coming days we will see a pattern similar to the one outlined by the dotted line. If you have been following the signals, you might currently have a position around 3315. This is not the most favorable entry point, given the current situation—a price squeeze within a triangle. However, looking at the daily and weekly charts, this entry point could be quite advantageous. ✅
The fact is that globally, the price is within what is known as a "bull flag" pattern a strong trend continuation formation. And if Bitcoin has reached the upper boundary of this flag (a similar situation is seen there), Ethereum is yet to do so. However, the target for such a pattern is much higher, aligning with the historical price peak around the 4800-5000 range. 💰
Therefore, it makes sense to do the following: 🔵
1️⃣ Wait for the price to break above the local resistance block. You might consider setting your first target for closing 1/3 of your position around 3490-3550.
2️⃣ After closing the first target, you can move the stop-loss closer to the entry point, around 3180.
3️⃣ After reaching the second target at the local peak (around 4050), you can adjust the stop-loss to break-even or lock in a guaranteed profit.
4️⃣ Set the third target just before the historical peak level, approximately at 4740
We know that ETH often follows its older brother BTC. Additionally, we are aware that institutional investors are legally trading this asset right now, thanks to the SEC approving an ETF for it. Therefore, it is highly likely that in the coming days we will see a pattern similar to the one outlined by the dotted line. If you have been following the signals, you might currently have a position around 3315. This is not the most favorable entry point, given the current situation—a price squeeze within a triangle. However, looking at the daily and weekly charts, this entry point could be quite advantageous. ✅
The fact is that globally, the price is within what is known as a "bull flag" pattern a strong trend continuation formation. And if Bitcoin has reached the upper boundary of this flag (a similar situation is seen there), Ethereum is yet to do so. However, the target for such a pattern is much higher, aligning with the historical price peak around the 4800-5000 range. 💰
Therefore, it makes sense to do the following: 🔵
1️⃣ Wait for the price to break above the local resistance block. You might consider setting your first target for closing 1/3 of your position around 3490-3550.
2️⃣ After closing the first target, you can move the stop-loss closer to the entry point, around 3180.
3️⃣ After reaching the second target at the local peak (around 4050), you can adjust the stop-loss to break-even or lock in a guaranteed profit.
4️⃣ Set the third target just before the historical peak level, approximately at 4740