ETH great LONG opportunity! Daily Chart
Updated
My previous analysis of BTC.D got confirmed with weekly closure as bearish SFP for Bitcoin against ALTS. Hence here is a chart for you with a very nice opportunity to long ETH against BTC with superb R/R!
Reasons to enter:
1. We are at the bottom of a massive falling wedge on Weekly chart.
2. On the Daily chart, there is a possible stop hunt. Liquidity taken by whales.
3. RSI on Weekly is EXTREMELY oversold and is holding at 24.
4. We are holding at very strong support. If it fails, next support is much lower.
5. Big RSI Bullish Divergence on the Daily chart.
Strategy:
Wonderful Risk/Reward Ratio = 10.27
Entry: around 0.01740000
Stop loss: 0.01453000
Target 1: 0.03573000
Target 2: 0.08493000
Trade safe!
Reasons to enter:
1. We are at the bottom of a massive falling wedge on Weekly chart.
2. On the Daily chart, there is a possible stop hunt. Liquidity taken by whales.
3. RSI on Weekly is EXTREMELY oversold and is holding at 24.
4. We are holding at very strong support. If it fails, next support is much lower.
5. Big RSI Bullish Divergence on the Daily chart.
Strategy:
Wonderful Risk/Reward Ratio = 10.27
Entry: around 0.01740000
Stop loss: 0.01453000
Target 1: 0.03573000
Target 2: 0.08493000
Trade safe!
Trade active
For nice people who followed my call and are currently +16% from entry: 1. Moving my stop loss from 0.01453000 to around breakeven 0.01720000. Essentially, running risk-free.
2. Long term targets did not change.
3. Please follow and smash the like button to motivate me for more free quality content ;)
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