Hello !
Let's see whats going on the 6 Hour ETH EUR chart!
We can see that we are progressing nicely but met some tough resistance at 700€ and got kicked down to the mid-low 600€,
but the bulls pushed us back up, and right now we are hovering just below the 700€ resistance again.
To successfully break 700€ we need the volume to increase, If we manage to break 700€ and sustain above it - it would be a huge victory for the bulls.
If we manage to push all the way up to the next resistance around 800€ , we will probably see some selling again which could drop us down to either 700 or the the minor support zone that i marked out, and then perhaps bounce from there.
However, If we cant break 700 i have a feeling that people will stop believing and we could in worst case go back to re test 450€, but the preferable option would be to move sideways until volume steps in.
Good luck trading
Let's see whats going on the 6 Hour ETH EUR chart!
We can see that we are progressing nicely but met some tough resistance at 700€ and got kicked down to the mid-low 600€,
but the bulls pushed us back up, and right now we are hovering just below the 700€ resistance again.
To successfully break 700€ we need the volume to increase, If we manage to break 700€ and sustain above it - it would be a huge victory for the bulls.
If we manage to push all the way up to the next resistance around 800€ , we will probably see some selling again which could drop us down to either 700 or the the minor support zone that i marked out, and then perhaps bounce from there.
However, If we cant break 700 i have a feeling that people will stop believing and we could in worst case go back to re test 450€, but the preferable option would be to move sideways until volume steps in.
Good luck trading
Trade closed manually:
Looks like we will fall out of this channel with the current progess.
Dangerous signs! Locking in profits and closing my trade, waiting this out a bit.
Dangerous signs! Locking in profits and closing my trade, waiting this out a bit.