ETHXBT: Ethereum has a weekly uptrend

The target hasn't been hit yet, but we might end up hitting it, and stalling there for some time, as I had explained in the monthly chart I posted. If you're long, look into closing margin longs on target, or if you own more than 50% account, go back to BTC to maintain equal weights in your cash account (spot, no leverage).

The support here is strong, so you can probably look into going long if this support zone holds.
is right against resistance, derived from the ETF decision news price action. It's a good idea to short with a stop at 1190+, or simply buying alternatively (if you didn't yet).
We closed our margin longs on the previous bar, and now reentered. With some luck, we won't go any lower before hitting the weekly 'Time at Mode' target.

Good luck,

Ivan Labrie.

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You can exit here or a tad higher...buying on dips is fine.

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Refer to the related ideas. It takes time to absorb all supply and march higher, and ETHBTC has some significant resistance above.

Possibly until May or even June.

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Weekly target hit ahead of time, the uptrend can last for a lot longer, but this level might be hard to break, and might send price sideways or even retrace before rallying again. Let's keep an eye on it to buy back on dips.

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2 more weeks left after this one ends, then bullish momentum might slow down

We need to see close to 24 hit.

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3 potential scenarios here

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It was a fourth possibility, we skipped all resistances and retested the DAO hack key level at 0.0222. This won't be so easy to break, we could slow down for a few days before going higher, or even longer. If we don't then this is an absolutely insane trend, and would probably become a bit too fast soon, maybe retesting the top of the DAO hack day quickly before correcting. Let's wait and see. Dips are a buy opportunity.

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is acting well

IvanLabrie

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