Ladies and Gentlman!
Looking at the 4HR Chart we can see a bullish divergence. Since the price bounced off the 200WMA i expected a pullback up to the 20WMA.
This expectation comes from the pull back after the kapitulation in October 2014. Provided the past shows some similarities with the present. - So far, I would say that clearly there are some.
For example the pullpack from the up swing in October 2014 was also slightly under the 0.618 Fib level.
We can also see bullish divergence on the 4HR ETH/BTC ETH/USD Charts.
As long as price is not able to break the 3470 level on high volumen i will stick with this Idea. If that happens, this idea would be invalid.
Looking at the 4HR Chart we can see a bullish divergence. Since the price bounced off the 200WMA i expected a pullback up to the 20WMA.
This expectation comes from the pull back after the kapitulation in October 2014. Provided the past shows some similarities with the present. - So far, I would say that clearly there are some.
For example the pullpack from the up swing in October 2014 was also slightly under the 0.618 Fib level.
We can also see bullish divergence on the 4HR ETH/BTC ETH/USD Charts.
As long as price is not able to break the 3470 level on high volumen i will stick with this Idea. If that happens, this idea would be invalid.
Trade closed: stop reached
