ETH-USDT Bullish Pennant on the 4 hr: Breakout Imminent
Ethereum is the future. If you are not in yet then hear me now... GET INTO ETHEREUM. Heavily. I firmly believe 40-60 percent of your cryptocurrency portfolio should be in ethereum alone. Now onward to the analaysis...
I made this chart cleaner and easier to read than normal. It's a classic bull pennant, with massive upside potential. If we use the previous rise's trajectory, then we land on april 14th for our peak of $2500-2600.
HOWEVER, I also acknowledge that Eth and cryptos as a whole have been consistently gaining and are very high up there on the other indicators (MACD, RSI, etc). With that being said... If you buy in now or buy in on the next dip.. set your stop loss just below the right tip of the pennant if you are on to play it super tight... or set your stop loss right below where the bottom line of the pennant connects to the pole if you want to play it more loose. In the long term, ETH will be worth 10-25x what it is right now. So if you are NOT on margin or leverage of any sort, then DO NOT SET A STOP LOSS for ETH. Only set SLs if you have someone else's money involved in your play. If you are a spot trader only, then this play WILL come to fruition, the only thing we do not know for sure is how long it will take and how severe any corrections along the way will be.
Happy hunting!
I made this chart cleaner and easier to read than normal. It's a classic bull pennant, with massive upside potential. If we use the previous rise's trajectory, then we land on april 14th for our peak of $2500-2600.
HOWEVER, I also acknowledge that Eth and cryptos as a whole have been consistently gaining and are very high up there on the other indicators (MACD, RSI, etc). With that being said... If you buy in now or buy in on the next dip.. set your stop loss just below the right tip of the pennant if you are on to play it super tight... or set your stop loss right below where the bottom line of the pennant connects to the pole if you want to play it more loose. In the long term, ETH will be worth 10-25x what it is right now. So if you are NOT on margin or leverage of any sort, then DO NOT SET A STOP LOSS for ETH. Only set SLs if you have someone else's money involved in your play. If you are a spot trader only, then this play WILL come to fruition, the only thing we do not know for sure is how long it will take and how severe any corrections along the way will be.
Happy hunting!
Trade closed: target reached:
To my 1 follower out there...
We're up 15% and though we are just shy of target.. I am taking profits for now. We will buy back in at next dip. Institutions are in the game now baby, and they make sure to take first. With their ability to hold giant positions and flash-crash when they take profits.. your goal should be trying to beat them to the punch.
Don't be greedy.
Ask yourself how many hours at your day job (if you have one) it would take to earn what your profit is sitting at right now? That should put things in perspective.
We're up 15% and though we are just shy of target.. I am taking profits for now. We will buy back in at next dip. Institutions are in the game now baby, and they make sure to take first. With their ability to hold giant positions and flash-crash when they take profits.. your goal should be trying to beat them to the punch.
Don't be greedy.
Ask yourself how many hours at your day job (if you have one) it would take to earn what your profit is sitting at right now? That should put things in perspective.