Hello everyone
On Ethereum we got what it seemed to be an ascending triangle which is a bullish pattern. The upper line indicates the resistance line.
We could calculate the target by measuring the width of the base of the triangle and placing it at the break out point.
We broke and the price surpassed the target by a little bit.
Currenty it seems like we are forming a bull flag on the daily time frame which is a also a bullish pattern.
But from the other hand we are forming a bearish RSI divergence.
So i would be cautious trading the bull flag.
Always use a stop loss!
Thanks
*Nothing of the above is financial advice*
On Ethereum we got what it seemed to be an ascending triangle which is a bullish pattern. The upper line indicates the resistance line.
We could calculate the target by measuring the width of the base of the triangle and placing it at the break out point.
We broke and the price surpassed the target by a little bit.
Currenty it seems like we are forming a bull flag on the daily time frame which is a also a bullish pattern.
But from the other hand we are forming a bearish RSI divergence.
So i would be cautious trading the bull flag.
Always use a stop loss!
Thanks
*Nothing of the above is financial advice*