ETHUSD: Needs To Again Breach 200 Week MA For Ultra Bullish Case

ETHUSD needs to again breach the 200 Week MA @ $222.72, as well as the 20 Week MA just above it at $231.30, in order to make a new swing high above the green 1 at $230.54. Following the TD Sequential 9 earlier this month, Ethereum against the US dollar has bounced back over 20% while currently holding onto approximately 15% of it's gains. A green 2 moving above the green 1 for ETHUSD would be an ultra bullish move, hence a long trade from $232 with a stop loss at $184.5 below the green 1 for a 2.75 risk reward ratio. The target would be the 100 Week MA.

See related ideas:

Altcoins Bouncing From 200 Week MA after TD Sequential 9

Altcoin Dominance Bouncing From 0.382 Fib Retracement

Trade closed: stop reached

Order cancelled