This is a strong reversal area, where ethereum has found both support and resistance more than 10 times.
We have highly overbought RSI's (monthly, weekly, daily, 12h, 4h...), only seen before in the major bull run ethereum had from 0.0018 to 0.0372 btc. And even though it kept going up it had also nice corrections that we can take profit of.
This is a small short base price 0.0233 and target 0.0211. SL at new local highs.
It is basically a 1/1 R/R trade, but i feel confident the small correction will happen.
Target chosen from lower TF chart: Ethereum could find support there where probably trendline and 100 EMA will concur
Trade closed: target reached
⋅
Quickest trade ever. 10% profit :D Idc if the dump keeps going or if it keeps pumping. I already made my profit.
Comment
⋅
As it might not be visible on daily chart, here is a lower TF chart
Comments
AiliKing
⋅
Nice catch buddy.
Also, opened a small long,with a tight stop.
Maybe it will bounce here.
AiliKing
⋅
Yep, also short, but from the top.
looking at 0.0215 to exit.
bagofXMR
⋅
@AiliKing, Thanks for sharing :D
Nice top catch then. I had old plans of shorting this level, but xmr pump and the potential dash short were keeping me distracted.
Also, opened a small long,with a tight stop.
Maybe it will bounce here.