๐จ Alert! For ETH/USD traders : update
https://www.tradingview.com/chart/ETHUSDT/zt7gefOL-Alert-For-ETH-USD-traders/
https://www.tradingview.com/chart/BTCUSD/eyBou4AQ-Alert-For-BTCUSD-traders/
๐ Let's take a deeper dive into the initial chart I've shared and explore the promising future of ETH. ๐ However, in the short term, some corrections are needed to boost market efficiency. (Check out my recent BTC post for more insights.)
๐ It's clear that ETH has played some tricks with retail stop/entry orders, a zone where traders often fall into traps. But let's not repeat the same mistakes; instead, let's make informed decisions by leveraging the right tools.
๐ Looking at the RSI, you might wonder why we haven't already seen a downturn since we're overbought. Well, the truth is, the RSI is a lagging indicator. The real action happens in real-time, using price action.
๐ช If we manage to break and consolidate above the BSL zone, I'll be the first to admit I was wrong and close my short-term short positions. Yet, I'm noticing a strong rejection at that zone.
๐ From a fundamental perspective, aside from the Bitcoin hype, I can't identify any significant factors boosting ETH, which implies that it's only a matter of time before ETH follows suit.
Let's stay sharp and navigate these markets wisely! ๐๐ก๐
https://www.tradingview.com/chart/BTCUSD/eyBou4AQ-Alert-For-BTCUSD-traders/
๐ Let's take a deeper dive into the initial chart I've shared and explore the promising future of ETH. ๐ However, in the short term, some corrections are needed to boost market efficiency. (Check out my recent BTC post for more insights.)
๐ It's clear that ETH has played some tricks with retail stop/entry orders, a zone where traders often fall into traps. But let's not repeat the same mistakes; instead, let's make informed decisions by leveraging the right tools.
๐ Looking at the RSI, you might wonder why we haven't already seen a downturn since we're overbought. Well, the truth is, the RSI is a lagging indicator. The real action happens in real-time, using price action.
๐ช If we manage to break and consolidate above the BSL zone, I'll be the first to admit I was wrong and close my short-term short positions. Yet, I'm noticing a strong rejection at that zone.
๐ From a fundamental perspective, aside from the Bitcoin hype, I can't identify any significant factors boosting ETH, which implies that it's only a matter of time before ETH follows suit.
Let's stay sharp and navigate these markets wisely! ๐๐ก๐
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