Dear HodlyCrypoters,
Since all other coins tend to follow big daddy BTC I can't make an analysis on ETH/USD without showing you guys what I got on BTC.
Now some insight on what happened with BTC and what will probably happen:
As expected a huge bullish horde appeared around the same time both ETH and BTC got into the mid-term bottom. I believe we entered a small window in which BTC will go up slightly to kiss the previous red gigantic support line from the bottom (7200-7400 USD). After that we will go down to another important algorithmic target. I do not believe we have found our real bottom. So a small 25 percent gain long oppurtunity has come out for BTC.
As it goes for ETH obviously the same goes for BTC. Be cautious because altough we managed to hold an important line for BTC, it does not guarantee in a longer term that we will hold it the third time we touch it. If it touches it a third time after we reach our targets (below previous big red line) it will most likely break it and go to the 4500-4800 USD area (algorithmic target... so be aware!)
Stay safe and good luck everyone!
PS: This is for educational purposes only. I am not a financial advisor. The sharing of graphs is meant to share my ideas with the rest of the community and an indication on how I make my trades.
Since all other coins tend to follow big daddy BTC I can't make an analysis on ETH/USD without showing you guys what I got on BTC.
Now some insight on what happened with BTC and what will probably happen:
As expected a huge bullish horde appeared around the same time both ETH and BTC got into the mid-term bottom. I believe we entered a small window in which BTC will go up slightly to kiss the previous red gigantic support line from the bottom (7200-7400 USD). After that we will go down to another important algorithmic target. I do not believe we have found our real bottom. So a small 25 percent gain long oppurtunity has come out for BTC.
As it goes for ETH obviously the same goes for BTC. Be cautious because altough we managed to hold an important line for BTC, it does not guarantee in a longer term that we will hold it the third time we touch it. If it touches it a third time after we reach our targets (below previous big red line) it will most likely break it and go to the 4500-4800 USD area (algorithmic target... so be aware!)
Stay safe and good luck everyone!
PS: This is for educational purposes only. I am not a financial advisor. The sharing of graphs is meant to share my ideas with the rest of the community and an indication on how I make my trades.
Trade closed manually:
stop all trades and take profits while you still can, we are going lower.
Comment:
stop all trades and take profits while you still can, we are going lower.