ETH Ascending Triangle 60,
Updated
ETH has bounced off horizontal and MA 50 Support
Volume has been decreasing since the bottom reversal and we have entered a consolidation period where a breakout is nearing.
This Trade could play out in 2 ways,
Upside :
Price Breaks through resistance at 850, Hits Horizontal resistance from major downtrend, tests resistance turned support at 850, and then continues a upward move to 1000USD. Potential for a Inverse Head and Shoulders after this move if price does not break 1000k
Downside :
ETH Fails to break resistance at 850 and retests horiztonal support at 800-810, Price then breaks to the downside and retest previous lows.
Follow Me on twitter @CMagician34 for more crypto updates and ideas as well as NBA talk
#Celtics #18
Volume has been decreasing since the bottom reversal and we have entered a consolidation period where a breakout is nearing.
This Trade could play out in 2 ways,
Upside :
Price Breaks through resistance at 850, Hits Horizontal resistance from major downtrend, tests resistance turned support at 850, and then continues a upward move to 1000USD. Potential for a Inverse Head and Shoulders after this move if price does not break 1000k
Downside :
ETH Fails to break resistance at 850 and retests horiztonal support at 800-810, Price then breaks to the downside and retest previous lows.
Follow Me on twitter @CMagician34 for more crypto updates and ideas as well as NBA talk
#Celtics #18
Note
Strong out confirmed by spike in volume above 850,Trade active
Trade active, Buy in at 856, Stop Loss 840Note
We are just waiting for BTC to join the up move lolNote
850 support held, and ETH has now broken abo horiztonal resistane, 1000 is the next Target.Note
Testing Support again, Stay alert.I cashed out at 891 and will look to rebuy if there is confirmation of support bounce.
Note
As Part of my scalping strategy I look for sell opportunities where I can rebuy an equal position in the trade. For example, I sold at 891 when I saw a bearish divergence in the MACD, and I now look to buy the same position (10eth) 10-20 pts lower once we have confirmation that support holds at 850.
This equals 100-200 USD which covers my stop loss risk from original buy in (857 buy, SL 840)
Trade closed: stop reached
Stop Loos reached, 850 + MA100 Support broken, and Eth has formed a Bear Flag, Watch out for a drop. My Scalp Trade Covered 80% of my loss from 856- 840
900 was also the 0,62 Fib retracement from bottom.
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