Ethereum has broken through 198 causing us to long in the last trade, hitting our first target on Bitmex.
Currently price looks weak so we may have a short entry below 214.7. If price breaks a certain area, it signifies strength and triggers a long.
Short
207 USD
Stop loss:
215 USD
Long:
215 USD
Take profit:
222 USD
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Currently price looks weak so we may have a short entry below 214.7. If price breaks a certain area, it signifies strength and triggers a long.
Short
207 USD
Stop loss:
215 USD
Long:
215 USD
Take profit:
222 USD
Thanks for viewing! Please view my past ideas in the related ideas section.
Trade active
Short is now active.Note
When we hit 203, lock in some profits as we may rebound then. If we make a weak rally, you may add to your short position.Note
If price can move above 215, close shorts and flip long. In theory we should keep breaking the bear fractals.
Note
Looks like forced demand on Bitcoin due to the curve down. The Eth fractals also seem to point down, so if you want to enter, a short would be fine.
Do not enter long here until we see strength.
Note
Low chance of descending channel
Note
So far trade is doing well.
Note
This looks bullish now. Rally upwards may be soon. I will switch long if we do not break the bear fractals and break the bull fractal.
Note
Price should not go below 207, wait for 210 to buy in.Note
ETh price didn't hold 210, short still active.Trade closed: target reached
203 reached, set take profit slightly above in case of reboundNote
I believe 187 will be reached eventually.Trade active
New chart will be updated soon when I have timeNote
Please follow me to receive updates as I post them. Most my trades finish within 24 hours and I may switch my position depending on price action.If you want access to some private charts like this one, just message me
Note
The BTC dump triggered stop losses allowing liquidity to long while the pump did the same and allowed them to exit/short.This is why the ETF will not be approved due to the low volume that allows for manipulation.
Note
Either way we have set a take profit and have secured the gain with small slippage.Note
As Ethereum is influenced by Bitcoin, if Bitcoin rallies to 6900, I expect an Ethereum near 232.
Keep in mind Ethereum had its top many days before Bitcoin did and I fully expect the top to be 220-232.
Note
Possible new setup I am looking into.
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Related publications
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.