Analysis of Ethereum against the dollar.
Ethereum showed a good show of strength from the bulls as the asset broke and returned to an important support level at $3,540, characterizing an important beartrap.
I am opening a long position with a target at the next important resistance at $3,991 and stop just bellow the last botton in $3488.
Reasons to buy:
1 - Beartrap at an important support level.
2 - Good risk/reward ratio.
Don't forget to always practice good risk management and do your own analysis.
For more analyses like these, follow me on Tradingview.
I am opening a long position with a target at the next important resistance at $3,991 and stop just bellow the last botton in $3488.
Reasons to buy:
1 - Beartrap at an important support level.
2 - Good risk/reward ratio.
Don't forget to always practice good risk management and do your own analysis.
For more analyses like these, follow me on Tradingview.
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