✳️ Ethereum vs Bitcoin NEW | Bullish Impulse (5-Up) 7X lev.
Updated
Hello my dear friends, I am back on ETHBTC with lev. but I just want to show you the chart.
The doubt that always creep in is this, "If Bitcoin is growing, how can the BTC pair of any Altcoin grow at the same time?"
If Bitcoin grows the ALTSBTC pairs are supposed to go down, simple thinking based on logic but reality and logic do not go hand in hand.
Proof.
✔️ ETHBTC grew from June 2022 through August 2022, together with Bitcoin.
This means that ETHBTC can grow even if Bitcoin grows. It can grow apart from Bitcoin but also together, this doesn't really matter.
The MACD is showing a young bullish cross.
The RSI bottomed hitting oversold and is now neutral but trending up.
A new bullish impulse can develop.
After the 5-Up wave pattern last year, we had a long corrective phase.
You can tell this is a corrective phase because you cannot draw a 5 wave pattern in anyway.
When a 5 wave pattern is not do-able, you are most likely than not looking at a correction (Elliot Wave theory).
To me this opens the potential for a new impulse.
Even without EW the chart structure, market cycle and other signals all point to a potential upward move.
Charts can change, things can always change and thus one has to plan before deciding to trade.
This is a very low risk set up, the 20-March low can be used as the stop-loss. Any trading above this level and up we go.
We have about 5% risk with 25%+ potential for reward.
We are doing 7X.
Capital allocation is 3%.
This is not financial advice.
I love you.
Thank you.
See you tomorrow... Or see you later on today?
Whatever, I am happy.
Namaste.
The doubt that always creep in is this, "If Bitcoin is growing, how can the BTC pair of any Altcoin grow at the same time?"
If Bitcoin grows the ALTSBTC pairs are supposed to go down, simple thinking based on logic but reality and logic do not go hand in hand.
Proof.
✔️ ETHBTC grew from June 2022 through August 2022, together with Bitcoin.
This means that ETHBTC can grow even if Bitcoin grows. It can grow apart from Bitcoin but also together, this doesn't really matter.
The MACD is showing a young bullish cross.
The RSI bottomed hitting oversold and is now neutral but trending up.
A new bullish impulse can develop.
After the 5-Up wave pattern last year, we had a long corrective phase.
You can tell this is a corrective phase because you cannot draw a 5 wave pattern in anyway.
When a 5 wave pattern is not do-able, you are most likely than not looking at a correction (Elliot Wave theory).
To me this opens the potential for a new impulse.
Even without EW the chart structure, market cycle and other signals all point to a potential upward move.
Charts can change, things can always change and thus one has to plan before deciding to trade.
This is a very low risk set up, the 20-March low can be used as the stop-loss. Any trading above this level and up we go.
We have about 5% risk with 25%+ potential for reward.
We are doing 7X.
Capital allocation is 3%.
This is not financial advice.
I love you.
Thank you.
See you tomorrow... Or see you later on today?
Whatever, I am happy.
Namaste.
Note
LONG ETHM23 (ETHBTC)Leverage: 7X
Buy-in: 0.06250 - 0.06550
Targets:
1) 0.06888
2) 0.07111
3) 0.07290
4) 0.07677
5) 0.08010
6) 0.08399
Stop-loss: Close daily below 0.06200
Liq. price: 0.05551
Potential profits: 215%
Capital allocation: 3%
Note
Targets:1) 0.06888 |Hit 14-Apr (+50%)
2) 0.07111 |Next target...
3) 0.07290
4) 0.07677
5) 0.08010
6) 0.08399
Note
Targets:1) 0.06888 |Hit 14-Apr (+50%)
2) 0.07111 |Hit 17-Apr (+74%)
3) 0.07290 |Next target...
4) 0.07677
5) 0.08010
6) 0.08399
Trade closed manually
Will share a new trade signal.
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