Ethereum is About To Change Direction! [Explanation Included]

In this idea I will go into depth how to read the recent price action on Ethereum and how you can leverage psychological areas of support and resistance to your advantage. Continue reading to learn more about this!

This idea is a continuation on the idea of the previous ETH/USD idea where we were going in for a short position: Since the price dropped really really quickly after posting the idea, I decided to make sure everyone is ready on what to do next.

After the price will continue to drop and indeed get closer to the $200 psychological support, make sure to expect a reversal. You could trade this with a nice long position, as described in the chart.

The logical place to exit the trade is close (but slightly below) to the level of $215.

Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.

- Trading Guru

--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!