Hello,
This is a multi scenario ethereum trading analysis.
We have 3 scenarios. Based on where the price moves we can try to predict ethereum's price. If ethereum breaks the ascending triangle, then the cup and handle would be invalidated, and the channel will be in play.
If we break the channel, it's a bear scenario. It's a very simple and easy trade to make.
This is a multi scenario ethereum trading analysis.
We have 3 scenarios. Based on where the price moves we can try to predict ethereum's price. If ethereum breaks the ascending triangle, then the cup and handle would be invalidated, and the channel will be in play.
If we break the channel, it's a bear scenario. It's a very simple and easy trade to make.
Comment:
The signal to short. Off course you should be awake by that time to pull a bitmex short. But, projected bounce on next resistance. If not, we continue going downwards and resume our bear market
The signal to short. Off course you should be awake by that time to pull a bitmex short. But, projected bounce on next resistance. If not, we continue going downwards and resume our bear market
Comment:
That's the beauty of these kind of ideas, now we know we are in a prolonged bear market
I already have a position. I'll wait to see if the first line of support breaks ( the ascending triangle). If it doesn't great, we're going up and I do another chart to project target.
If it breaks, I will initiate a short towards the channel's support line. I will buy back near this line. If this line fails, I will re initiate a short towards bear targets.
Not very hard!