🔹 #ETH shows a typical growth pattern
Let's see how the currency moves in the 1-hour time frame. I want you to learn to identify a common type of bullish movement in the market using this chart as an example:
1️⃣ On May 9, the chart began to show a "squeeze" pattern within a bullish cup and handle formation just below the mirror level of ~$2,420. This level was broken and the price rose further.
2️⃣ Upon reaching the next mirror level, the area of ~$2,580, a new pause occurred. During this pause, the previous level of ~$2,420 was tested from above. A bullish continuation pattern, resembling a "bull flag," was also formed, which led to growth on May 13.
3️⃣ After a new high, the price stops again. It has now retraced to the previous mirror level of ~$2,580, which previously acted as resistance. If a new bullish formation forms here — which is very likely — the most logical decision would be to open a long position.
This type of growth typically occurs in the 1-hour and 4-hour time frames. It is best to work with these situations in those frames ☝️.
