I'm looking for key levels to trade around. Risk reward is not attractive inside these levels unless you're trading short term. If stops are too tight they'll likely get ran for no reason and you'll get chopped into ribbons as the market wants you to. If they're too wide you can't really have too much size on. The only interesting risk reward I see here is a short from the 3500 level or try to buy 2350-2400s and see if that could take you to 3300 - 3500. Careful though, as the market could pull back to 2k along the way and still trade toward 3500.
While I think this is mostly a no trade zone, I'd rather be a buyer than a seller at current levels.
I'll have a post on my bigger picture view tonight (looking at the weekly time frame for ETH and BTC).
While I think this is mostly a no trade zone, I'd rather be a buyer than a seller at current levels.
I'll have a post on my bigger picture view tonight (looking at the weekly time frame for ETH and BTC).
Comment:
Buyers pulled 2300 to 2700 and sellers are back in control from 2700s - no surprise there. Now we're headed into chop where 2400s need to hold. The short term tactical trade is already done, so expect chop unless 2300 or 2750 is breached.
Comment:
held the 2650s rejection well and now going in for the test of 2800. Above that and we could see price go to 3500 fast. With the conference this week we might see some bullish action
Comment:
Back in the buy zone in blue - notice 2x 618. ETHBTC has been weak but that could change for a few sessions
