Ethereum: Profitable Long Positions and 500$ as Target

2020년 11월 6일

I'm holding a long position opened above 400$. I wrote about such a trade in this post. From my point of view, Ethereum looks much more interesting than Bitcoin. The bullish trend in ETHUSD gave us a good entry point after the correction movement. Bitcoin ignored a correction and moved toward 16 000$. We should\t buy at tops. Ethereum looks better if we talk about the potential for upward movement. Bitcoin is not far from ATH as Ethereum has a huge space between the current price and ATH.

I think we should be ready to see a sideways movement or a pullback in BTCUSD market and solid upward movements of altcoins. Now, it looks like traders and investors are focused on Bitcoin and the money came into this market from altcoins.

If we talk about Ethereum, we can expect that 500$ resistance zone will be reached. Any pullback in the daily chart will be good for adding new trade volume to long positions. The breakout below the uptrend line and SMA50 will be a reason to fix the profit and exit from long positions.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.

2020년 11월 7일

노트

It is the right time to fix the part of profit!