When and if eth dips here, there are 2 prime long opportunities,
245 and
233 if you get lucky with a wick.
245 is the 38,2% retracement from the breakout at the 200 daily ema and that's more often than not how much it tends to retrace in similar scenarios.
And 233 is the level that eth must maintain on the weekly if it is to aim for new highs. 0,5fib level and the 21 daily ema is in the vicinity as well.
Shorting this is tricky, you are gonna be constantly underwater until there's a flash crash, I do think it's looking extra toppy here though.
Targets would be in the 305-320 area, probably another test of 360 as well.
245 and
233 if you get lucky with a wick.
245 is the 38,2% retracement from the breakout at the 200 daily ema and that's more often than not how much it tends to retrace in similar scenarios.
And 233 is the level that eth must maintain on the weekly if it is to aim for new highs. 0,5fib level and the 21 daily ema is in the vicinity as well.
Shorting this is tricky, you are gonna be constantly underwater until there's a flash crash, I do think it's looking extra toppy here though.
Targets would be in the 305-320 area, probably another test of 360 as well.
Note
Given the btc dip and comparable eth reaction, i think eth might be bottomed out at 260.Note
More volume in the dump than the pump and we didn't even test 230. Eth is so godamn strong, loaded the dip for a scalp to 263 and 273.
Note
Im out of the scalp, once volatility dies down a bit and we see some re-accumulation ill look for a longer term swing to. $480 is quite probable and $850 test and rejection down to 360-520 is fairly likely by end of year.
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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.