ridethepig | ETH Market Commentary 2020.07.23
Updated
The number of available entries in ETH, to a certain extent compensates those short-term speculators as we can get this to $300.00 relatively quickly with no more protection.
=> As the saying goes.. 'A rising tide lifts all boats'
This illustrates the play on the BTC wings. It is also characteristic for the fearless to generate alpha and neglect sellers weakness across the major cryptos. ETH will benefit from the general optimism around the Crypto board as well as the latent dollar weakness. I wouldn't be surprised if we saw more ETH buying, especially since EOS is likely to remain in first gear for the foreseeable future.
Here $250/$255 is the preferred entry.
...a momentum break above $270 is also worth considering if we are unable to get enough size on the pullback. There doesn't seem to be any significant resistance level from here, will track $300.00 as a healthy target.
Thanks as usual for keeping the feedback coming 👍 or 👎
=> As the saying goes.. 'A rising tide lifts all boats'
This illustrates the play on the BTC wings. It is also characteristic for the fearless to generate alpha and neglect sellers weakness across the major cryptos. ETH will benefit from the general optimism around the Crypto board as well as the latent dollar weakness. I wouldn't be surprised if we saw more ETH buying, especially since EOS is likely to remain in first gear for the foreseeable future.
Here $250/$255 is the preferred entry.
...a momentum break above $270 is also worth considering if we are unable to get enough size on the pullback. There doesn't seem to be any significant resistance level from here, will track $300.00 as a healthy target.
Thanks as usual for keeping the feedback coming 👍 or 👎
Trade active
No luck on the cheap fills... Momentum plays at 270 only, good luck all those on the bid.Comment
For those wanting to add to positions: 
Trade closed: target reached
A flawless momentum play ✅
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.