Ethereum may be gassing out due to exhaustion. However, it may just be searching for liquidity which it will find just under the receent equal lows about at the 150% extension of the current High and recent low/drop. I suspect it may come back up as a fake out and fall short of the high due to the bearish order block. There's a pretty significant trendline which will bring a lot of Liquidity in the market, I would expect it to sell through that and then below the equal lows as already noted above. After that, I still have a Bullish outlook on ETH. Just be careful of the drop and have some buy limits set to enter that the best time.
Good Luck and Good Trading.
Good Luck and Good Trading.
Trade closed: target reached:
I couldn't have called it more perfectly, except for holding longer to take profit.
Comment:
My line at 1072 says Buy. I remember putting this in my phone on the trade and being a little scared. Next thing I know I look at my phone 2 days later, last night just before and I went to bed and was up 750 pips. I know not to get too greedy so I closed 3/4 of my trade then and let the remainder of the trade float until I had a high take profit of 1215 and my Stop loss in Profit. I woke up to the price at 1260!?!?!?! I should've know better. But Now that its NFP day, that trade was a trade that would normally take me two weeks to get in other areas of Forex/Crypto. But this one was a trophy. Good Luck and Happy Trading to anyone out there trading today. I'll be on the sidelines.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
