Ethereum: Consolidation Period and How to Trade
The price is moving sideways in the borders of a triangle chart pattern. It tells us about the consolidation period. What's next?
If the price breaks the resistance line, it will be a bullish signal. The bulls will try to reach 470$ resistance again and break it. The uptrend will be continued.
If the price breaks the support line, it will be a bearish signal. The bears will try to break 422$ support and SMA50. It will open the road toward 400$ and SMA200.
The breakout signals will give trade opportunities. Search for exact entry points using the hourly and minute timeframes. Use stop orders and proper money management!
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 price breaks the resistance line, it will be a bullish signal. The bulls will try to reach 470$ resistance again and break it. The uptrend will be continued.
If the price breaks the support line, it will be a bearish signal. The bears will try to break 422$ support and SMA50. It will open the road toward 400$ and SMA200.
The breakout signals will give trade opportunities. Search for exact entry points using the hourly and minute timeframes. Use stop orders and proper money management!
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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