Hello. I see strong impulse on Ethereum while breaking SMA 100 it did significant step against short set up on 25.04.
I expect this to follow yellow channel edges and start to breaking in any direction as target is close.
Entry: 752-757 (explained at 1hr chart)
I expect this to follow yellow channel edges and start to breaking in any direction as target is close.
Entry: 752-757 (explained at 1hr chart)
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If You missed entry there is no place for worries! There is an opportunity to swing and start adding Ethereum to Your pocket! Price trapped itself into death corner, correction is inevitable.1hr chart
Note
Now, I have better view on the market after that many candles painted on board. I can specify good entry levels shown below on 1 hr chart:Trade active
Market seems refusing bigger price drops what leads to massive short squeeze. This could be bottom floor.1 hr chart
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Entry at 763 and 756Note
Although price broke down from yellow channel, there is very high possibility for recover. High volume shows massive seloff that could flip the coin back on track. Stop described on 4hr chart:Note
1hr chartTrade active
Fake breakdown, there will be battle for atleast double bottom (double bottom line - continuous white horizontal). Huge buying wicks suggest panic fear, but volume confirms indecision which is bullish in this phase. Big seloff from 25.04 is a very strong price border.4hr chart
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After that tough correction there is high possibility for bright recover. Everything is on good way to bring back the price to green levels. Yellow channel has been forced so many times it could distract traders, however We keep our thesis still alive that recent selloffs were so massive and We could use this information to start accumulating real buisness.1D chart
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View updated, ascending bullish triangle pattern appears on the horizon.1hr chart
Trade closed: stop reached
Yellow channel broken, triangle pattern broken, There is need for reassess.
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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.