Inverse Head & Shoulders – Next Stop 2260$

30 giu 2023

• ETH needs to break above the neckline and resistance of 1930 USD.
  
• Today’s (June 30th) daily candle shows a displacement to the upside with volume.
  
• The high volume and the wide price range gives me some confidence that this is a markup and the consolidation phase is finished.
  
• Ideally, we should also get a retest of the 1930 USD level as support.
  
• The target of the Inverse Head and Shoulders is 2260 USD.
  
• Pay attention to the resistance at 2100 USD and maybe take some off the table at that level.
  
  • Trade Idea:
    • Entry: 1930 USD (After retest as support)
      
    • SL: 1805
      
    • Target: 2260
      
    • TP: 2100, 2260 USD.
      
    • R: R: 2.6
      
    
    If you read my previous ETH ideas, you know that I expect more from ETH.
    NFA
    What do you think? Please share in the comments.
    Best Wishes.
    

8 lug 2023

Nota

Although this trade hasn't been invalidated, it is no longer a high-confidence trade.
The only encouraging sign is the hidden bullish divergence on the daily.