In my last article on ETHUSD I said it was close to breaking out above the 150 SMA on the weekly chart. Well, now it has. RSI is very strong (above 60) and the MACD is finally above the zero line. We have not seen this in over a year for the MACD and RSI has not been over 60 since January 2018 *the good old days". LOL
The 150 SMA (weekly) is now where I would put my stop loss. If ETHUSD closes below this average, I would exit any long trades. This will keep my losses to a minimum as ETHUSD takes flight.
This breakout is very similar to my "Bitcoin Sandwich" article I posted predicting BTC would break above 8100. Will it be as successful as BTC? How long will it last? Who can tell. But at least ETHUSD is in the air and with the weekly RSI above 60, it will accelerate quickly.
Please do not take this as investment advice. This is my opinion. Please do your own due diligence when buying or selling cryptos.
I kept another one short & sweet. Good luck to you all.
The 150 SMA (weekly) is now where I would put my stop loss. If ETHUSD closes below this average, I would exit any long trades. This will keep my losses to a minimum as ETHUSD takes flight.
This breakout is very similar to my "Bitcoin Sandwich" article I posted predicting BTC would break above 8100. Will it be as successful as BTC? How long will it last? Who can tell. But at least ETHUSD is in the air and with the weekly RSI above 60, it will accelerate quickly.
Please do not take this as investment advice. This is my opinion. Please do your own due diligence when buying or selling cryptos.
I kept another one short & sweet. Good luck to you all.
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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.
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.