As we warned, ETH did a remarkable movement. On April 21 it did a Harami-cross pattern, near 21 ema, above an upward trendline and above the 38.2% fib retracement. That’s what we can call obvious trade. The trade was triggered on April 22, and if you missed it, check my analysis here:
Today, it reached exactly on our main target, the 61.8 fib retracement. Congratulations for those who did catch this trade. If you didn’t sell your position yet, I think now is the best time.
And now? Just wait. Patience is our greatest tool. ETH have a few supports here, look at the black line (previous top), purple line (upward trendline) and the 21 ema. The price can go all the way down there without spoil the upward trend. When it reaches there, we may buy again.
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Thank you very much.
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nice analysis! what support level are you yourself keying in on the most? I'm sure we could dip to 190ish and just back up? or down to 160? maybe it just keeps going up right? well im going to be patient and try to get in somewhere below 200.
Nathan_Black
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@TurnerCrypto, Thanks man! Well, that’s a good question and I’m not afraid to confess to you that I don’t know. It was easy to tell that it was a long trade 10 days ago, but now it’s hard to tell, and I only like the easy trades. We have 3 supports that are very close to each other, the trendline, the 21 ema and the previous top, so I would say that the 190 zone is the strongest. But honestly, I would like to see it dropping all the way down to 160 again.
Thanks for sharing your ideas! Stick around, I do daily analysis here.
TurnerCrypto
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@Nathan_Black, Yeah guess we must watch and wait it out for now. I wish I was more confident 10 days ago about my trade; I was in @ 150 but chickened out .. then in at 170 and sold out at 174 after it went to 190 and dipped back down thought we were going sub 160 again... .. then at 184 again and dumped out before the big upside. I got short at 198 and holding hopefully till I go into positive.. wish I held my 150 trade tho. I saw a bearish divergence on the daily TF a week ago so I was thrown off by that. 160 would be to much of a gift to ask for so I'm not expecting it , thatd be too great.
Nathan_Black
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@TurnerCrypto, Totally agree. Just be careful with overtrading, my friend, studies reveal that the more trades you do, more likely is for you to lose money in the long run. That’s why I like to stick for days or weeks in my trades (even months, sometimes!). Just be patient, wait calmly for an opportunity and when it appears before you, just catch it, like a sniper.
Stay safe.