2021/10/06 14:22 PM – D1 – “TRICKY” LEVEL ! –

ETH – D1 – “TRICKY” LEVEL ! by Ironman8848 on TradingView.com

In attempting to breakout the upside of the clouds the ETHUSD is currently traded at a tricky level;
indeed in addition to the potential clouds breakout, which should be validated, at least by a minimum
of one more daily closing above the clouds, the ETHUSD is also managing to breakout of a broad triangle
pattern which if confirmed would trigger a very sharp upside move, targeting a rally of 1’375 points, in opening
the door for a technical target @ 4’870….


So, what next ?


Price action over the coming hours & days will give the answer; either the breakout will be validated and an upside accelerationwill take place soon (very fragile between 3’600-3’000, former long black candle of Sept 7th) with a potential double top around 4’000

or

breakout triangle failure and return within the triangle pattern with the next significant support around 3’150 (cluster) ahead of the triangle base support trend line , currently around the 3’000 area and also, by the way the D1 bottom clouds.

Good luck

Ironman8848

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Other Asset Classes