Caveat: Due to the seasonal bearishness of alts, this could be the mother of all bull traps. Proceed with caution.
That said, after a textbook elliot wave bull run forming the back half of the cup, we've seen a beautiful handle appear. I would avoid early position in order to reduce exposure to possible downside. If we have an upside break, there will be plenty of room to position after confirmed movement.
Good luck to everyone in this trade!
-Alamo
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This is healthy, just a slow and steady up leading to the first wave. If you got in with me @ .075 you're already looking great. If we continue to gain like this, the pump could ultimately put us in the .09x region. HODL!
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Chart still looks healthy as approach our breakout zone. Those in profit continue to move your stop loss with your gain to ensure a green exit. Those waiting on breakout, watch closely.
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It appears as though BTC will take ETH down with it this time, I am exiting this trade.
Thanks Alamo.. I've bought ETH before reading your ideas, but I was thinking to sell it at 0,08x.. But now I'm thinking to hold it and wait until it reach 0,09x
AlamoZ28
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@yos.affandi, Cheers! Depending on the amount of risk you are comfortable with, consider scaling out. The trick here is to balance you entry and stop loss. Make sure you have it set to take profit in the event this is indeed a bull trap. The big indicator for general ETH bullishness is the BTC correction. If BTC enters correction, we could see ETH sky rocket. Good luck with your trade!~
AlamoZ28
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@yos.affandi, and inversely, BTC going up will effect eth negatively.