롱

Ethereum poised to bounce towards 1500$

업데이트됨

Ethereum down the middle of to supply zone, after an almost complete ABC correction.
Overextended TD count and descending broadening wedge .

Provided key support at about 1100$ holds (daily close matters), a bounce towards #TP1 at 1430-1510$ would likely follow.

Highly risky and speculative trade, for traders only.
Watch support, tune your entry, have a stop.

DYOR

노트

It's moving slow and likely to meet upper boind of broadenoing wedge a bit lower than i would originally expect:

Such test will be crucial.

노트

A look at weekly: key MA20/W sits at target range low.

노트

Meaning that Ethereum is pretty close to a key resistance area.
Let's watch it.

노트

High at 1525$, target reached already.
Yet personally i'm here for the long run.

It took quite some time, but was definetely worth it.
As usual, DYOR and protect your gains.

노트

Current chart:

Enough for the scope of this analysis.

노트

Sidenote: Broadening Wedge breakout should be confirmed on close.

Watch it.

노트

Ethereum close to resistance on hight TD count.
Possible topping pattern, taking partial profit.

노트

Closing, as target was reached .
Enough for the scope of current analysis.

노트

Trying to find a breakout.

Will let this trade run and wait for BTC.

Won't double down on Ethereum here though, too risky.
In case of a strong breakout i'm confident some lagging alts will provide me better R:R from here.

노트

Will provide further analysis on ETH later, but it's too soon to judge.
For now i'm just adding the above note.

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Eyes on ETH.

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If it manages to break through 1820$ ...