ETH - Time to Shine?
Updated
As we all know, ETH has seen very little action over the last month due to BTC stealing the show.
However with the BTC fork craze nearing an end, I believe that ETH may have a chance for a move.
As you can tell from the chart above it appears that ETH is starting to squeeze within a pennant.
The BULL Cycle:
IF we happen to break through top, I will be entering a long position.
My major target points would be 350, 394, and 448.
Additional target points are the fib extensions shown above.
The BEAR Cycle:
As much as I would love to see ETH make a run up, there is still a chance we will fall out the bottom of the pennant.
IF this happens I will likely place a short, and my first target would be the major support line at 271.
I hope this helps and I wish you all the best of luck!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
However with the BTC fork craze nearing an end, I believe that ETH may have a chance for a move.
As you can tell from the chart above it appears that ETH is starting to squeeze within a pennant.
The BULL Cycle:
IF we happen to break through top, I will be entering a long position.
My major target points would be 350, 394, and 448.
Additional target points are the fib extensions shown above.
The BEAR Cycle:
As much as I would love to see ETH make a run up, there is still a chance we will fall out the bottom of the pennant.
IF this happens I will likely place a short, and my first target would be the major support line at 271.
I hope this helps and I wish you all the best of luck!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Trade active
My order filled at 326 while I was sleeping. Little higher than I expected, but it is what it is; Especially with that scary drop follwing BTC down!However, it appears we have found support on this trendline which is a great sign!
A break below this like will trigger my short term stop/loss.
Comment
This is a Bullish sign for ETH!
Creator of DepthHouse Indicators on TradingView!
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