If we break out here we'll get a confirmation in the daily timeframe, although I suspect that we will remain sideways for longer, forming an accumulation range until the market is ready to advance. If we hold in this zone, we have more than enough reasons to hold our long term longs, and once the trend fires, we can focus on intermediate term and short term trading signals to complement our investment/position trade.
Potential upside in the short term matches the monthly mode resistance, so it is extremely logical and likely to see price go back to the 10 handle or close. I'm interested in seeing if we eventually break it, and hold above, to confirm further, potentially incredible upside over time.
Good luck,
Ivan Labrie.
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First logical target hit...in one day! It could retrace a bit, but likely continuing higher. It could easily reach the 2nd target, or go twice as far in the short term.
If we close and hold above 9.86 we can expect further (and very significant) upside eventually, let's wait and see.
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I'm still holding.
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We have some shorter term opportunities here, I think we won't go back to our entry ever again, ideally, we want to see the market hold in this zone above the light blue box, and consolidate until it breaks the long term resistance above. It will probably take until March give or take, you can buy oversold dips since the daily trend is now up. After it gets oversold, buy into strength.
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Today the daily uptrend time expires. If we don't go down from here, and we just stay in this zone sideways for a while, we can expect the rally to resume in time.
I think we already broke the range. What does this mean?
IvanLabrie
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@Rivet.popper, see the updates. Hard to predict the immediate path. We're at monthly resistance, so if you have leveraged longs, or more than 20% account, reduce that exposure.
Paczcz
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Whats your view on the pair ETHBTC? Its volume is comparable to ETHEUR, also ETHBTC is flashing SHORT signals everywhere.