Ethereum has been lagging over the past couple weeks compared to other majors in the market. The current price action is restricting in a triangle formation, a breakout will be imminent.
Today’s report will also include:
Updated Technical Analysis
Trading Tolls
Wisdom Drops
Ethereum Price Pennant
In todays analysis - ETHUSDT - trading in a pennant formation where a break will surface in the coming hours.
Points to consider ✍
Contracting Price Action
Local Bullish Trend
Triangle Apex
Bullish Expansion
EHUSDT’s immediate price action is trading between a dynamic support and resistance that is converging, allowing for a bullish bias.
The prevailing trend is considered bullish, this increases the probability of a bullish break from the current apex.
The immediate objective will be the swing high where resting liquidity is waiting to be tapped.
From Bitcoin Insider’s perspective, ETHUSDT is a valid long with defined risk. Price Action is to be used upon discretion/ management.
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How did we do in this issue?
Bitcoin Insider bouncing back to work, See you in the next one! 👊