Potential bottom play for ETHWUSDT
Hi fellow traders,
After a drop in price of the ticket ETHWUSDT by more than 50%, it might be interesting to look for long opportunities for this coin.
There a five reasons why a long entry might be interesting:
1) The price has already dropped by more than 50%
2) The area around 6 dollars per ETHW is the start of the previous expansion and the last area in which a higher low can be played
3) The area around 6 dollars shows strong volume in the past, suggesting the support might be strong there
4) Potential falling wedge structure in the recent price data can be found
5) Good risk to reward
Entry:
Between 5.50 and 6.00.
Stop-loss:
5.365.
Regarding TP's, I would go for agressive TP's such as in the example below (75% is sold already after the second TP):
TP 1: 6.73 (25%)
TP 2: 7.585 (50%)
TP 3: 8.51 (10%)
TP 4: 9.92 (10%)
Trade safe and smart! As this coin is very volatile, make sure to have a proper position size that fits with the volatility.
After a drop in price of the ticket ETHWUSDT by more than 50%, it might be interesting to look for long opportunities for this coin.
There a five reasons why a long entry might be interesting:
1) The price has already dropped by more than 50%
2) The area around 6 dollars per ETHW is the start of the previous expansion and the last area in which a higher low can be played
3) The area around 6 dollars shows strong volume in the past, suggesting the support might be strong there
4) Potential falling wedge structure in the recent price data can be found
5) Good risk to reward
Entry:
Between 5.50 and 6.00.
Stop-loss:
5.365.
Regarding TP's, I would go for agressive TP's such as in the example below (75% is sold already after the second TP):
TP 1: 6.73 (25%)
TP 2: 7.585 (50%)
TP 3: 8.51 (10%)
TP 4: 9.92 (10%)
Trade safe and smart! As this coin is very volatile, make sure to have a proper position size that fits with the volatility.
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