Approaching Line in the Sand. Break Through or Sand in Face..?
ETH has got to prove itself at $300. If we break through, we are in a new impulse wave structure. If we stall at $300 and start to retrace, then ETH remains in a bear trend. If you're long now, expect some sort of reaction at $300. If you're looking to get long, it's a wait and see moment. Currently, the expectation is that we will see a reaction and a pullback. We've got an over bought oscillator, the 61.8 retracement of the entire move lower and the 100% alternate price projection all coming together as we approach $300. I'm a long term bull, so I'm looking for a push through but it would surprise me. Ultra aggressive traders can look for a short with a tight stop just above the 61.8. The trade I'll wait for is the wave-4 if and when we get through $300 convicingly...
Crypto Trading and Education - goo.gl/AUxrWz
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Crypto Trading and Education - goo.gl/AUxrWz
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.