varunsm0812
Long

ETHUSD || LONG (MID - TERM)

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Prices bouncing off of extremely oversold conditions compared to the entire history of Ethereum (weekly)
I see a potential mid term trend reversal based on strong technical indications & since Ethereum's Constantinople Hard fork is round the corner, fundamentals are straight away calling for a bounce.
Any weekly close below $90 level would invalidate this analysis and Ether would continue to capitulate.
Comment: Support curve still intact.
Comment: Price nearing the buy zone again.
Is it a good time to buy?
Yes.
Keep stop losses just below the support curve and your trade shall be good to go.
R/R is excellent in this scenario.
Comment: Prices testing the historical resistance areas once again. Just like the LTC trade, these areas should be broken upwards with conviction or we'll end up having a double top situation.
Lets hope for some buying actions!
Comment: Hate to say it but Ethereum not looking good at all.
Comment: surprisingly enough, Bulls truly are doing a good job defending the lows!
Comment: 1st Target
Comment: Just a couple of bucks shy of target 2.
Trade is doing well until now.
Comment: Target 2
Comment: 6 months.
Still maintaining a bullish posture, wicking off of the third and final big resistance.
The ETHBTC pair looks rekt although.

Comments

A little violation of the trendline, needs to start opening and closing above for continuation. Fingers crossed!
Reply
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