SOS
ETHUSD following Wychoff DistributionBeen watching ETHUSD just before the drop to $100. That drop marked the Spring in Phase C of the Wychoff distribution for me. The pump back to $108 - $110 confirmed the pattern by forming the LPS in Phase D of the Wychoff distribution. I will look for longs after a small retrace preferably to around lower $105. Would like to see:
- Small retrace to the 50 MA around our entry (Orange)
- Retest $110 and find support on the 128 MA (Red)
- Target $115 for the 200 MA (Purple)
Entry: $105 - $106
Target 1: $110
Target 2: $150
Stoploss: $102.9
Watch the fibonacci levels! (Green)
Prices are taken from Bitstamp, adjust accordingly on your exchange.
Dump steepnessThe dumps on BTCUSD went from really steep to less steep. The dumb this month seems to be somewhat steep. Now you tell me what that means...
