🔅#Ethereum Bullish Flag Pattern
👉🏻 $ETH is now consolidating within a Bullish Flag which, if the breakout is confirmed, should push the price up to at least $2,100
⛔️ In case of invalidated breakout, $ETH price could retrace to supports based on Fib 0.5 and 0.618, around $1200-1300
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✨Did you know that a #Breakout Structure is made up of 3 different stages?
1️⃣ #Consolidation phase (flag price structure) should be well-defined within two down-sloping parallel trend lines.
2️⃣ #Breakout phase, a genuine breakout, occurs when the price spikes through the upper resistance line. (the breakout needs to be accompanied by heavy volume).
3️⃣ #Confirmation phase, in which a breakout is confirmed by the price closing above the upper resistance line. (along with sustained follow on buys above the flag).
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As usual, before investing in any crypto project, you should do your own research. DYOR. You've heard it before, and you'll hear it again. 😎
👉🏻 $ETH is now consolidating within a Bullish Flag which, if the breakout is confirmed, should push the price up to at least $2,100
⛔️ In case of invalidated breakout, $ETH price could retrace to supports based on Fib 0.5 and 0.618, around $1200-1300
————
✨Did you know that a #Breakout Structure is made up of 3 different stages?
1️⃣ #Consolidation phase (flag price structure) should be well-defined within two down-sloping parallel trend lines.
2️⃣ #Breakout phase, a genuine breakout, occurs when the price spikes through the upper resistance line. (the breakout needs to be accompanied by heavy volume).
3️⃣ #Confirmation phase, in which a breakout is confirmed by the price closing above the upper resistance line. (along with sustained follow on buys above the flag).
————
As usual, before investing in any crypto project, you should do your own research. DYOR. You've heard it before, and you'll hear it again. 😎