ETHUSD DAILY CHART ETHEREUM ENTRY LEVELS
The massive size of this descending triangle leads to a very tempting trade with a Risk/Reward ratio of 6. Placing long positions once next resistance zone breaks.
However, beyond Technical Analysis, the rally leading to the $412 high was funded on several successful ICOs taking place in short time, and a Bullish Market.
An order over $260 is safe anyways, profits could be taken under $300.
For those willing to pull the trigger today, high volatility is expected, and must be willing to watch the market closely placing small positions. Risk/Reward just reaches 0.16
DMI, PVT, RSI, MACD, Keltner Channel all seem bullish on the daily chart, but today's bar has just opened, it is better to wait until it closes.
Price broke Ichimoku Cloud at 1H, 3H and 6H. Again, $260 becomes possible resistance according to this indicator on the Daily chart.
WNZ
Free updates and analysis of the cryptocurrency market: t.me/ZeddmoTrading
However, beyond Technical Analysis, the rally leading to the $412 high was funded on several successful ICOs taking place in short time, and a Bullish Market.
An order over $260 is safe anyways, profits could be taken under $300.
For those willing to pull the trigger today, high volatility is expected, and must be willing to watch the market closely placing small positions. Risk/Reward just reaches 0.16
DMI, PVT, RSI, MACD, Keltner Channel all seem bullish on the daily chart, but today's bar has just opened, it is better to wait until it closes.
Price broke Ichimoku Cloud at 1H, 3H and 6H. Again, $260 becomes possible resistance according to this indicator on the Daily chart.
WNZ
Free updates and analysis of the cryptocurrency market: t.me/ZeddmoTrading
Trade active
So, I pulled the trigger at the time of publishing. Trade active over 219. Resistance at 230, but on the 30M chart, there is a short-term double-bottom. Initial target over resistance zone, now around 230 so we can lock profits.
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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.