EthereumLong
ETH Bullish Play
Updated
Hey,
after the huge correction, Eth seems to have found some support and might retest upper resistances.
I spotted a RSI bullish div on daily time frame which might lead to a final retest of the ~320$ or even ~340$ resistance.
But currently everything depends on BTC, so bearish BTC movements will lead to an invalidation of this idea most likely.Also rejection of the resistances and finding new support at around 180$ is possible.
after the huge correction, Eth seems to have found some support and might retest upper resistances.
I spotted a RSI bullish div on daily time frame which might lead to a final retest of the ~320$ or even ~340$ resistance.
But currently everything depends on BTC, so bearish BTC movements will lead to an invalidation of this idea most likely.Also rejection of the resistances and finding new support at around 180$ is possible.
Note
Broke throught first resistance but more due to the BTC pump than own strength. Not sure if this play will come alive or smart money waits for better prices to invest again. If BTC remains stable, Eth will see some positive moves, otherwise seeing lower levels as good entry for smart money is very likely.
Load up area of 150-180$.
Note
Bullish div on daily ETHBTC chart. if this plays out, we could see a good pump to my target area of 320$.
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