Ethereum: Breakout Gives New Trade Opportunity
Ethereum is going to offer us a very interesting trade. The price reached the key downtrend line. We got a bearish candle yesterday, which told us about a possible reversal. But today, buyers are active, and they are trying to move above this trend line. If we look at MACD, it is supporting a further upward movement. RSI doesn't reach the overbought zone, and it means the market is not overbought. We can expect the breakout with the further upward movement.
If the daily candle is closed above this trend line, we will be able to see the continuation of the uptrend during the following days. The breakout will give a buy signal in the direction of the bullish trend. The main target for buyers will be the zone at 300USD. Stop orders should be placed below the local swing low and the downtrend line. Risk per trade must be no more than 3-5% from the capital.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the daily candle is closed above this trend line, we will be able to see the continuation of the uptrend during the following days. The breakout will give a buy signal in the direction of the bullish trend. The main target for buyers will be the zone at 300USD. Stop orders should be placed below the local swing low and the downtrend line. Risk per trade must be no more than 3-5% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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