In the previous post, 5 days ago, I analyzed Ethereum and looking at the chart we could draw a triangle that formed after the price has found support on the long-term downtrend line (yellow dotted line)
In the formation of a possible triangle, ABCDE, and has already formed ABC
If we measure the height of the triangle and project the possible price increase or decrease, we could estimate a possible target price
Bullish
- Target $ 200 dollars approx.
Bearish
- Target $ 80 dollars approx.
If it breaks lower, it could form a double bottom, the price.
If we analyze the RSI, we see that the price is in the oversold zone, a 4-hour chart. what could be an indication to start the wave at point D.
What do you think?
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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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