"Jack's Trading Classroom" - ETHUSD still has one bullish target yet to be achieved

Currently, we are looking at the 4-hour candlestick chart of ETHUSD. On February 10, 2020, we published a technical analysis titled "ETHUSD Bullish Trend Assessment."

Currently, we are looking at the four-hour candlestick chart of ETHUSD. On February 10, 2020, we published a technical analysis titled "ETHUSD Bullish Trend Analysis."

At that time, the price of Ethereum had already broken through the Fibonacci level of 1769.55, which was determined to be a bullish trend.

In the article, we mentioned, "The first target price is the resistance range of Fibonacci levels 127.2-138.2 at 1968.26-2048.62, and the second target is to look for bullish targets above by retracing to 61.8, which falls at Fibonacci level 161.8 at 2221.03."

The first target price at the Fibonacci level of 127.2-138.2 resistance range of 1968.26-2048.62 has already been achieved earlier, and a rebound occurred after forming a high point at 2049.15. The high point has not yet broken the low-high pattern below, indicating that the overall trend still needs to be judged as bullish. Traders can consider taking partial profits in this consolidation range.

The second target price at the Fibonacci level of 161.8 at 2221.03 has not been achieved yet, and the bullish trend has not reversed. Therefore, remaining positions can continue to be held, waiting for this target price to be achieved before taking profits.

In recent days, the digital currency market has experienced significant fluctuations. It is recommended that operators strictly follow risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please read with caution, as cryptocurrency trading may pose risks to your capital.

WeChat Official Account: Jack's Trading Classroom
Official Telegram Channel: https://t.me/JackCryptoRoom