At the Time of Writing this,
ETHUSDT
Sits at 3327. Upward trend yesterday propelled by little volume and consistent with bearish sideways action. Chart showing short term Bearish trend. ETH still remains above major trendlines, 50% Fibs, and bull flag remains valid. However if one is looking to get in again. Seek tonight or this weekend for lower price. Price should touch the 3160 range again and may even dip into the point of control at 3000.
See my last article for last months trades and gains. Just traded arbitrage back out of BTC:ETH
E1:3160
E2:3010
PT:3691
SL:2876 w/ reentry at 2670 and a exit at 2997
Overall Bulls will be looking to turn Bull flag or rectangle into the handle of intra year cup and handle. Measuring from bottom of cup to top is about 2500, putting C&H Theory target at medium to long term goal of 6500. If ETH holds over 4250 I hill Buy to hold a long position again. If not POC is at 1760 and we do it all again. Happy hunting
could go either way most Technical Indicators are pointing down and were at top of current trend, However Havening is here and its the last one so you never know. Personally I feel with Institutions in Play, This will be one giant buy the Hype sell the news so get in and get out. Do not hold multi year bags in this economy. But Lets See what the gods of fate have for us this year.
- Soup Kitchen General Management
ETHUSDT
Sits at 3327. Upward trend yesterday propelled by little volume and consistent with bearish sideways action. Chart showing short term Bearish trend. ETH still remains above major trendlines, 50% Fibs, and bull flag remains valid. However if one is looking to get in again. Seek tonight or this weekend for lower price. Price should touch the 3160 range again and may even dip into the point of control at 3000.
See my last article for last months trades and gains. Just traded arbitrage back out of BTC:ETH
E1:3160
E2:3010
PT:3691
SL:2876 w/ reentry at 2670 and a exit at 2997
Overall Bulls will be looking to turn Bull flag or rectangle into the handle of intra year cup and handle. Measuring from bottom of cup to top is about 2500, putting C&H Theory target at medium to long term goal of 6500. If ETH holds over 4250 I hill Buy to hold a long position again. If not POC is at 1760 and we do it all again. Happy hunting
could go either way most Technical Indicators are pointing down and were at top of current trend, However Havening is here and its the last one so you never know. Personally I feel with Institutions in Play, This will be one giant buy the Hype sell the news so get in and get out. Do not hold multi year bags in this economy. But Lets See what the gods of fate have for us this year.
- Soup Kitchen General Management
Trade active:
In at 2890
PT2 3570
SL @2640