EthereumUpdated ETH 4-Hr Price Action UPDATE ** IMPORTANT**
We are headed to a Triple Bottom as seen in the chart. Will S1 hold? If you're looking for a long entry, I can't see any reason not to consider a small investment with an entry near S1 (116.xx) price level. Even if we break lower you can add more and dollar-cost-in with the expectation Constantinople news will blow this thing up!
S1 is the key, so set your alerts and let's see what happens!
Outlook: I have already analyzed ETH on the 4-Hr, but I have to say that based on volume and recent price action, ETH appears BEARISH and poised to break below S1. But we are at levels that must be considered for dollar-cost-averaging into ETH. Even if it loses half its value you could offset the lower prices by adding more and reducing your investment costs. We could also BOUNCE off this triple bottom, so consider all available data. I am not Bullish on ETH, but I am considering the external factors that may run this token north... NEWS!
I don't see how it can hurt to have a few tokens a the 116.xx price level with the expectation of adding more if we go lower!
TRIPLE BOTTOM ALERT -- TIME TO TAKE NOTICE!
Best,
Biff
S1 is the key, so set your alerts and let's see what happens!
Outlook: I have already analyzed ETH on the 4-Hr, but I have to say that based on volume and recent price action, ETH appears BEARISH and poised to break below S1. But we are at levels that must be considered for dollar-cost-averaging into ETH. Even if it loses half its value you could offset the lower prices by adding more and reducing your investment costs. We could also BOUNCE off this triple bottom, so consider all available data. I am not Bullish on ETH, but I am considering the external factors that may run this token north... NEWS!
I don't see how it can hurt to have a few tokens a the 116.xx price level with the expectation of adding more if we go lower!
TRIPLE BOTTOM ALERT -- TIME TO TAKE NOTICE!
Best,
Biff
Note
We did well on this call so far. Congratulations if you purchased at or under the 116.xx level as I suggested... Well, it's not much, we may have more upside potential based on the price action. I displayed a rudimentary bullish pennant JUST AS A GUESS. There is nowhere near enough data to conclude we formed a Pennant, but we can DREAM! In red I take a guess on how I think ETH should play out. Do not be surprised if we sell off very suddenly as the major players try to scare you out so they can get some really cheap ETH to blow up on news. As always, leave a Thumbs up if you find my DD helps you make a better informed investment decision... GOOD LUCK!
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.
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.