XanderCrypto
Short

Potential ETH double gains [ETH/USD]

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Conclusion:

A perfect play would be a rejection off the channel / wedge (we cannot confirm either, slightly more likely it is a wedge ) with not enough buying momentum- this would allow for a short opportunity onto a very nice support where we could then wait for signs of a reversal and could accumulate some bargain bin ETH.

Other scenarios:

Bullish breakout with enough buying volume could put us into an uptrend but I see this less likely.

No mini uptrend here and just a blast to the lower support- which is less likely but here we need to be careful it doesn't break through the lower support I am using to the true bottom.


This is NOT a buy OR a sell signal. I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.

If you liked this short post, be sure to follow and like. It really helps out :D

~Xander



Comment: Potential to turn here after already hitting the fib line, pretty bearish candle comparatively on a "reversal" we were expecting. Wait for confirmation of a small up or a large down from here.
Comment: Lowest target looking for 350ish,safest buy on support line is 380-400.
Comment: Here we will find out if it's a wedge or a channel.
Comment: The short keeps on giving. More likely a channel~ Lack of oscillation within the wedge realistically.
Trade closed: target reached: Short closed, we now look for the second half of the trade.
Trade active: GO ETH GO!
Trade closed: target reached: BOYS AND GIRLS WE MADE IT.
Nice work, ETH still very bearish.
+1 Reply
XanderCrypto VBAmaster
@VBAmaster, I agree, was anticipating a small pullback here given how heavy the buying action had been to prevent further free fall 2 days ago but maybe it could just retrace on this leg.
Reply
My chart looks similar. target 650 then retrace down.
+3 Reply
XanderCrypto BethanyJoy
@BethanyJoy, the stars alined.
+1 Reply
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