ETH - plan the trade, trade the plan.
Ethereum is going well, no surprises here. This was a classical long trade (a very good one, in my opinion), because we saw a harami near 21 ema and near trendline, all together in a bullish trend (daily) with a nice risk/gain relationship. Check my previous analysis if you missed it.
Now I’m going to quote myself in my last BTC analysis:
“A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.”
Now it would be perfect if the price close above U$ 191.22. But we can expect some correction too, it would be nice for those who missed this opportunity.
In any case, we should be aware of U$ 213.58, it’s an important challenge to ETH right now, as it is a fib retracement and was a support in the past (pink rectangle).
The perfect target here is U$ 253, but I believe that’s going to take a while.
Be patient and be safe.
Now I’m going to quote myself in my last BTC analysis:
“A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.”
Now it would be perfect if the price close above U$ 191.22. But we can expect some correction too, it would be nice for those who missed this opportunity.
In any case, we should be aware of U$ 213.58, it’s an important challenge to ETH right now, as it is a fib retracement and was a support in the past (pink rectangle).
The perfect target here is U$ 253, but I believe that’s going to take a while.
Be patient and be safe.
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