-bullish tk cross has occurred on coinbase, poloniex for daily and 4 hour.
-stoch rsi has hit oversold, expect a trend reversal soon
-Target for taking profit $320-$420.
-btc/usd has formed a double top and has lost steam/momentum
-proprietary technical data also indicates we can expect a good pump. (be prepared for a drop and to take profit or hold long-term).
I am posting this as a trade idea. My real trade is in eth/btc as I believe it has higher likelihood of being a win.
For the record I am long eth/usd and eth/btc.
If trading eth/usd put in your stops.
-stoch rsi has hit oversold, expect a trend reversal soon
-Target for taking profit $320-$420.
-btc/usd has formed a double top and has lost steam/momentum
-proprietary technical data also indicates we can expect a good pump. (be prepared for a drop and to take profit or hold long-term).
I am posting this as a trade idea. My real trade is in eth/btc as I believe it has higher likelihood of being a win.
For the record I am long eth/usd and eth/btc.
If trading eth/usd put in your stops.
Note
target of $320 hit. price peaked at $328.4hr for eth/btc and eth/usdt says it can push a bit higher, but there is some risk. I suspect it will push a bit higher for at least the next 5 hours, reset, then push further. Lowest risk action here says TP and go long again or stay neutral.
Trade closed: target reached
I am closing this trade. This one was a win. I do suspect ETH/USD and ETH/BTC to go higher. I see a bullish 50-200 cross on eth/btc 4 hour candles.
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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.