#MarketRebound ETH/USDT 30-Minute Chart - Trade Setup Analysis
This chart showcases a White Swan harmonic pattern on the 30-minute timeframe, signaling a potential bullish reversal. Here’s the detailed setup:
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Pattern Analysis:
• The White Swan pattern is formed, with a significant reaction near Point C, aligning with a key Fibonacci retracement and harmonic levels.
• Price strongly reversed after completing the pattern, confirming a bullish breakout.
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Trend & Price Action:
1. Trend Overview:
• Short-term (50 bars): +23% Uptrend, showing a strong reversal.
• Medium-term (100-200 bars): Downtrend, indicating the breakout is challenging higher timeframes’ bearish momentum.
2. Breakout Confirmation:
• A clean breakout above the descending trendline confirms bullish intent, supported by strong momentum.
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Trade Setup:
• Entry: Around $1,459.11 (breakout confirmation near Point C).
• Target: $1,631.91 (target zone of the harmonic completion).
• Stop Loss: Below $1,450 (safeguard against false breakouts).
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Outcome:
• This setup yielded a 10.59% gain, reaching the projected target with precision.
• The pattern’s effectiveness highlights the significance of combining harmonics with trendline strength and Fibonacci retracement levels.
