ETHUSDT going for a Ride or are about to fall?Hello everyone!
So the past few Days have been tricky and we certainly have not been able to tell where the market is headed next. We at Chainassets.capital have been riding this rollercoster as well. Anyhow, for the time being we have two possible situations here. ETH going up from here is a more likely scenario since we just bounced off 50% fib level, and couldn't touch the 38.2% level. Had it been the scenario where Market touched the 38.2% level we would have been more than certain to open our Shorts for the next few more weeks.
This calls for Long Entries in ETHUSDT for sure, but the Trend Channel its currently in is saying otherwise. Although the channels are meant to be broken and rules like Bounce Offs are supposed to be followed, we Recommend Using Less Leverage and keeping the Stops ready for each Order. Don't use over leverage and Always be prepared for the Worst!
Long Potential: 26% from here.
Stop Loss: 3101
Short Potential: 17% (Only if Last Low of 3102 is Broken)
Stop Loss: 3446
DISCLAIMER: This is just an Idea and not a Financial Advise, thus we request you to treat it as such. We take no responsibility for your Profits or Losses. Do your own TA before Investing/Trading.
