ETH/USD Idea
Updated
Hi all! Happy Thanksgiving!
I was quite busy over the holiday and the markets have been crazy recently so I’ve been mostly watching from the sides. I think now we have some good signals to work with. During this last correction ETH went down and bounced off the uptrend line, and then followed with a bullish engulfing candle. Since then it has moved up through the cloud and the MACD is on the verge of crossing. I think this is a good signal to buy. However, the markets are still crazy. I think $500 would be good place to consider taking profits, leaving some open as this massive bull may continue its rampage. Stop losses would be good anywhere below the uptrend line.
I was quite busy over the holiday and the markets have been crazy recently so I’ve been mostly watching from the sides. I think now we have some good signals to work with. During this last correction ETH went down and bounced off the uptrend line, and then followed with a bullish engulfing candle. Since then it has moved up through the cloud and the MACD is on the verge of crossing. I think this is a good signal to buy. However, the markets are still crazy. I think $500 would be good place to consider taking profits, leaving some open as this massive bull may continue its rampage. Stop losses would be good anywhere below the uptrend line.
Note
BTC looks like it has the potential to enter into another correction. If BTC starts to fall ETH most likely will too. I think $450 is an important level of support for ETH and I will be watching that line. Make sure stops are in place, and happy trading!
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