ETHUSD long opportunity
Updated
Since ETH hit $800 and rebounce, $1300 is a break up zone. The bull momentum is weaker than the bear momentum, it's consolidating now, but the bear momentum shows sign of fading, I'll try the buy with smaller bet size because the risk of false break down to kill all buyers before it goes up is still there. The better long opportunity is wait for the false break down and follow by the strong bullish momentum.
Currently the chart is telling me:
1. at Support Zone
2. consolidating with fading bearish momentum
3. small double bottom expected some stop order there
4. latest bearish wave 1:1 to be fulfill
5. HL
6. potential channel up structure
Currently the chart is telling me:
1. at Support Zone
2. consolidating with fading bearish momentum
3. small double bottom expected some stop order there
4. latest bearish wave 1:1 to be fulfill
5. HL
6. potential channel up structure
Trade closed: stop reached
triangle consolidation break down.
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