ETH will Pop soon.
Fell to range midpoint and has wicked below several times filling buy orders. Trend looks like it is starting to turn bullish after price fell back to value.
Avg Entry currently 0.0313 (continuing to buy)
Stop loss. I am using a Soft Stop on this one, so I do not get wicked out, but it means I am carrying higher risk on this trade. A smart stop would be the recent low at 0.0298 (finance) or 0.02964 (Bitmex). Will update here if I stop out.
Short term target is 0.0388 or above
Initial Target for breakout of long term range/consolidation (Low Dec 2018, High Jan 2019) is 0.0475
Reasons:
OBV moves have a correlation with Price moves of 1:1 - 1:2 OBV:Price
Initial move off low on great volume and force than we have seen in 18 months. Most recent high at 0.0348 has a high probability of being retested and exceeded:
Fell to range midpoint and has wicked below several times filling buy orders. Trend looks like it is starting to turn bullish after price fell back to value.
Avg Entry currently 0.0313 (continuing to buy)
Stop loss. I am using a Soft Stop on this one, so I do not get wicked out, but it means I am carrying higher risk on this trade. A smart stop would be the recent low at 0.0298 (finance) or 0.02964 (Bitmex). Will update here if I stop out.
Short term target is 0.0388 or above
Initial Target for breakout of long term range/consolidation (Low Dec 2018, High Jan 2019) is 0.0475
Reasons:
OBV moves have a correlation with Price moves of 1:1 - 1:2 OBV:Price
Initial move off low on great volume and force than we have seen in 18 months. Most recent high at 0.0348 has a high probability of being retested and exceeded: