The way I intend to trade this is to first wait for a break above 245, and then look to buy the next pull back. Keep in mind this scenario may never play out, but at the moment that is what I would like to see in order to buy into this market for a swing trade.
In order for the major to become questionable, price needs to push below 160. I DON'T KNOW if that will happen, but if it does, it will point to further selling in the long run and would prevent me from swing trading this market from the long side.
Remember as a price action trader, my goal is to WAIT for elements to align in order to stack PROBABILITIES in my favor, not make absolute predictions. As the market offers new information, I adjust.
Feel free to ask any questions.
You can really tell that people moved away from Ethereum from its relation to bitcoin. Seems like sentiment has changed big time . Do you really see $280 as still being a possibility? A lot of people dont see bitcoin going much higher than $2600 short term. Makes me thing that high $260's might be as high as ETH can go without new news. What do you think?