Ethereum (ETH) Looks bullish. Possible 228 target.

My last two trades closed for 13% profit and -3% loss. You may view them in the related ideas section.

Ethereum has pumped up along with Bitcoin after touching support twice.

Right now we are testing 225 resistance on Ethereum, but if we break through, it is very possible to hit 228 or rally even higher.

Therefore, we may long Ethereum now at the price of 224.

Buy:
224 USD
220 USD

Stop Loss:
214.5 USD

Take Profit:
228 USD
235 USD

Ethereum may fail to break resistance and return to the 220 area. If that happens, exit your position if a bear fractal has been broken.

If that happens, you may short as we will likely be heading lower.

There is also a very good short opportunity here if you wish to take it. Simply short now on an alternate account and have a stop above the bull fractal. If it fails, you lose 0.42% at most.

I am still standing by my 6900 target for Bitcoin.

Comment:

There is a very good short opportunity here if you wish to take it.

Short now on your alternate account and have a stop above the bull fractal on the 5 minute.

If the trade fails you still are in profit due to your original long but if we do not break resistance you are fully hedged and should lose nothing.

You risk 0.5% profit.

Comment:

My short is in 1.35% profit so far. While my long is at a 0.5% loss.

Comment:

My long is still active but I am now more bearish than bullish on Ether as I have added some short positions. The only way to save this trade is if Bitcoin rallies again and takes Ether with it.

The stop loss is still above the bull fractal.

Comment:

The long is closed and the short is in 2% profit.

I believe we will be testing sub 218 levels. I will close my short then and possibly add to a long.

Trade active:

Long entry filled. I closed my short at the 219 long price.

Comment:

I do expect ETH to retest 228 again.

Trade closed: target reached:

3.81% profit.

Trade closed manually:

ETH hit 228 as predicted and we closed our long.

If you followed my XRP short you would be in 8% profit right now. Please check it out.