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ETHEREUM (ETHUSD) - Bullish Movement. Next Target $765? LONG.! Welcome everyone, hope you all are doing well. Let us look into another trading opportunity. Ethereum, one of the oldest project in crypto scene, doesn't need any introduction. Let's look into the daily chart: INDICATORS: After touching the bottom of $358 on 1st April, ETH started a new uptrend and has been trying to gain some upward momentum. Moving Average is curving upwards which means Bullish movement. RSI is in 60-ish region which is again in favour of bulls. ADX and DI are giving Bullish signal. MACD line is already moving above signal line which means Buy opportunity. POSSIBLE TARGETS: $765 $891 $1016 $1195 $1424(Previous ATH) Also note that, BTC price movement will also affect ETH. So, keep an eye out. P.S: This is not an investment advice, and i am just learning. This is for my learning purpose only. Invest your capital at your own risk. Those who wish to achieve greatness, never seek for permissions. They follow what their heart says, and do what their mind states! Good luck trading.! Peace.
BITFINEX:ETHUSDLong
by johntradingwick
3
How high are we going in ETHUSD?Position: Slightly Bullish. To be clear, I have been long since my martingale strategy worked out great and my average buy is at $533. If you are following me, I hope you got in and scooped up some of these prices as it fell and realized how effective employing a martingale strategy is. Were you panicking during the sell-off? I wasn't. Now we are in a great position to profit. The question at this point is: when do we get out? The first thing we need to realize is that we are in an overall bear market. Could this be the bottom? Possibly. But we made a lower low. A Significant one at that. Ether had a low of 600 and it broke it by roughly $130 to the downside and we need to take note of that. We also need to take note that we have had a solid rebound and push up and now we need to see where it heads. The 1st major point of resistance is 600. While I think it's going to break through it, depending on how it reacts will be critical. As long as we don't break below the 555-560ish level, we are in good shape for a pushup to at least the 675-700 level. Since I am a trader, I will be looking at this point to most likely get out of the market. At this point, we will have a lot of indicators converging on this area as resistance. What would ratify this more is if RSI shows divergence and MACD starts slowing down, but we won't know that until we are there and if it happens at all! Here is what we have going on which we can see: 1. 2 Trend lines converging on this area. 2. Fib resistance at the 50 fib area from the most recent peak 3. Resistance at this 700 level. Everyone has different TA , so we need to look for points that have a "confluence" of indicators that lots of people will look at. This 675-700 area is the first major one on the upside. Even though 600 is the TECHINCAL resistance after it broke that level to the downside, and it still could go down from here, I still think this 675 level will be the level to stop any sort of rebound IF it happens. All though we will watch this 600 level carefully, we will watch how it reacts even moreso to this 675-700 area. Happy Trading everyone. Don't stress, pick your points and don't use leverage. -Sherem Check out my last call with how I got my average buy at $533 -
BITSTAMP:ETHUSDLong
by Sherem
2
Are we going to break to the upside? Scenarios - ETHUSDChart update: We need 2 more things to happen to indicate a move to the upside. First, we need to break this short term trendline I put in green minor channel resistance at 525. 2. We need to break this 600 resistance zone. Once we break those we are will be targeting this 675-700 zone. The more I analyze, the more I like putting large orders down in the 300-350 area to play a bounce and not use stops on this trade. Trade save everyone, pick your points, don't stress and don't use leverage! -Sherem
BITSTAMP:ETHUSD
by Sherem
ETHBTC - A longer term view - Bullish potential ETH!I am having a look at Ethereum vs Bitcoin today, it is important in these kind of market conditions to stay on track with trends vs BTC. Even though we are still bearish on the longer term, as well as new short term bearish signals, I would just like to point out the possibility of a massive cup and handle. Like I always state, no formation has a 100% success rate and no trade is risk free. With that said we can also see what might be a bullish pennant on the handle of the cup, another bull signal on the longer term. On the flip side the bears are still in control and we might take a massive dip, what to look out for. The Cup and the Pennant trade idea will be void should prices fall below the handle, or the pennant. This is at 0.074, I would like to extent that zone to just below the 200 MA on the 1 Day chart, which is around 0.07 btc. This is also my support zone for the short term on the market, 0.07btc – 0.074btc. There is a possibility of a breakout should prices consolidate above 0.084. Please note breakout levels are not set in stone and change regularly. Feel free to discuss this trade idea with me in Discord . Safe trades.
by saintbitcoin