Ethereum is the easiest crypto to trade right now🟢 Ethereum is the easiest crypto to trade right now
As an altcoin, one of the biggest, COINBASE:ETHUSD is not yet in the bull cycle.
Once BITSTAMP:BTCUSD ends the bull cycle we will see altcoins to rally and appear interesting, but for now everyone is focused on BTC. When PROs start to see that BTC cycle is almost over, the money will move to altcoins in order to create another bull cycle and make even more money.
✅ What pattern is unfolding in COINBASE:ETHUSD ?
ETH has formed a giant triangle during the last 3 years. Now, we have a clear resistance trendline which is great in order to place our buys.
Furthermore, the support line is also clear, so we also know the levels where ETH will be cheap BUT not in a bear market, so we can add up to the portfolio more ETH.
💰 How to trade this chart pattern?
The logical way is to wait for the breakout and buy over 4k$, but you can also buy each time the market approach the blue support level betting for a latter break out.
While the price is still inside the triangle, you can also trade the range, but shorting ETH right know is such a difficult bet!
🛡️ The risk management strategy
As we have done in so many previous ideas, remember you can split the position in 2.
- 50% of the position in a take profits as large as your stop loss (adapt SL and this 1st TP to local supports/resistance levels). In this case, a 6 to 8%.
- 50% of the position to a price as large as the previous pattern, which would mean a profit of 150% to 200%.
✴️ ENJOY AND FOLLOW for more 😊
