ETH/USD - Buy opportunity incoming! Are you brave enough? 🤑
ETH is about to re-test our major support since March 2020. If there is a prime buy area for Ethereum, then this is it.
However, are you brave enough to buy? Why I say this?
Any dips to this support will be brief and sharp, but there is a bit of a risk involved, particularly if BTC sets a lower low (see my idea linked below). If that happens, this support may be under a lot of pressure and if it cracks a buy here may turn into regret as ETH can go towards 2k instead of
4K
So reflect carefully and act accordingly (use a stop loss if somehow we fall through).
On the bearish side, MACD on weekly just did a negative or bearish cross. That is not a good signal if you hope for price to pump. Therefore, one has to use proper risk management and protect capital.
The bull scenario is we set a higher low and get a nice reversal in price action. The current indicators don't inspire confidence, but this is crypto. Last time we were here we pumped 15%.
Pick your side.
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However, are you brave enough to buy? Why I say this?
Any dips to this support will be brief and sharp, but there is a bit of a risk involved, particularly if BTC sets a lower low (see my idea linked below). If that happens, this support may be under a lot of pressure and if it cracks a buy here may turn into regret as ETH can go towards 2k instead of
4K So reflect carefully and act accordingly (use a stop loss if somehow we fall through).
On the bearish side, MACD on weekly just did a negative or bearish cross. That is not a good signal if you hope for price to pump. Therefore, one has to use proper risk management and protect capital.
The bull scenario is we set a higher low and get a nice reversal in price action. The current indicators don't inspire confidence, but this is crypto. Last time we were here we pumped 15%.
Pick your side.
Like and follow if you liked this idea!
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