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Tuesday, May 16, 2023

ETH | Channel Breakout on the 1W

ETH | Channel Breakout on the 1W

Ethereum / U.S. dollar BITSTAMP:ETHUSD

Historically, we see this kind of structure often. Technically, it is simply a price movement within a range for the purpose of accumulation and / or distribution.

Many of you may think that technical analysis does not work or works poorly. No. It works great if you actually know what technical analysis is. Even the popular Smart Money approach is the same technical analysis, but effective in more local trading situations.

Technical analysis applies globally. Wedges, double bottoms, and so on, are not just shapes on a chart. It's a whole distribution logic.

Generally, the objective of our project is to update people's knowledge about the real technical analysis, and not the false one that you see more often. Study our project to learn more, because we have gone further and automated the search for patterns and phenomena.

from TradingView Ideas

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