Two Bullish Scenarios to Watch on ETHUSDT

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This week, ETHUSDT has shown a significant upward movement, and there's a good chance it could continue its bullish momentum.

There are two bullish scenarios developing on ETHUSDT:

1. After a pullback, we could see an impulsive move that breaks the previous high (marked with the red arrow) and pushes the price towards the first target at 1,911 – 1,957.

2. The price could move sideways for a while, forming a bullish pennant pattern. In this case, a correction towards 1,756 – 1,731 might occur before the price resumes its move to the first target at 1,911 – 1,957.

Both scenarios remain valid as long as the price holds above 1,722.

If the second scenario plays out, the pullback to 1,756 – 1,731 can be considered a good buy zone (for those who are not in position yet).
Remember: wait for a confirmation candle before entering and place your stop-loss just below the confirmation candle.

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Giao dịch được đóng thủ công

There's not enough momentum for the price to break the previous high, which has led to the formation of a potential double top pattern.
Be cautious of a breakdown below the invalidation level, also known as the neckline of the double top.