DLavrov

Ethereum - Support Zones for Buying

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Let's talk about Ethereum . The support zone at 160.00 level holds the market. We have the local uptrend line and Moving Averages with 200 and 50 periods which make this zone stronger.
In spite of bearish signals from MACD lines and histogram, DMI is bullish and confirms trend market conditions. ADX line falls and it tells us about the correction period.

If the price can't break the support zone , it can become a starting point for a new upward movement in the uptrend structure. Price reversals from this support and breakouts above the important swing highs will give buy opportunities.

If the price breaks the support zone , the next one will be at SMA100 and the main uptrend line. The price reversal from this zone also will give a good buy opportunity.

All buy trades must be used with stop orders for a case if the price moves against long positions. It will protect your capital! Proper money management and the detailed trading plan will allow making a good profit from this market.
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@DLavrov nice update. My - more short term - perspective is that I believe we will break below $160



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@DLavrov Hi,What do you think about my idea ?
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DLavrov IgorPorokh
@IgorPorokh, it looks logical. Thanks for sharing!
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Is it possible To buyer at a exactly bottom price?
I don't think so.

I agree with your (DLavrov) analysis.
If Buy it last time after you suggest to buy while this time one-day price dump, then maybe now is in a profit status. Maybe can take partial profit to lower the holding cost.
If buy it next time when price drop again, then the average price holding cost will be still in a very good status. (Before Golden Cross, maybe it will have another dump for testing the long term support.) A smaller triangle might be in developed. And a bigger triangle might be in developed, too.

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@BMYWin, thanks for your comment and sharing your idea!
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Maybe we are in channel and not out of the triangle ?
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DLavrov ScratLpp
@ScratLpp, based on the daily timeframe we are in the upward channel.
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@DLavrov, yes upward channel on daily timeframe, but the price hit the resistance of this channel ... So it's more barish i think
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really, so we are in buy zone now?
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