ETH hit Important Resistance Area , good to buy pull back

GEMINI:ETHUSD   Ethereum / U.S. Dollar
ETH hit Important Resistance Area
Do not chase price
Wait for price to pull back to 180-200 to buy

The recent rally is very quick and strong
Therefore we want to enter this long trade
when price come to this potential zone

That is 50-61.8 retracement and also the
important structure.
Target 340
Feb 17
Comment: it's coming down. lets wait for it to drop to our zone
Jack's Trading System:

微信助手:jackedu007 (添加信息 JACK院长)


I don't think we will see 200 ever again. We have clearly broken the 280 resistance now. What do you think?
+8 Reply
@ReiX, Agree. Not this year..
@ReiX, it's cleared for now, it doesn't mean "you'll never see it again".... we are in a multi-year bear market... always assume lower prices until long term trends are changed.
keep it simple: sell the high yellow lines. buy the lower lines.

if we breakout above 340 with confirmation then a bull may start (highly unlikely as of this moment).... if we make a lower low consolidation ensues... if we make a double top expect much lower prices, fairly below the lower yellow lines. stay away from snake oil sellers telling you "this time it 's different, "adoption" and bullshit alike"... Only price matters. this is a multi-year bear until price says otherwise.

good luck!
chocotraders chocotraders
@chocotraders, this is the right image :

Keep on waiting. 300 plus incoming
+4 Reply
ApoInvestment silverback79
@silverback79, imao bears still in disbelief waiting for price to go back down
+5 Reply
silverback79 ApoInvestment
Considering the strenght of the rally, I personally have doubts this one will retrace that much.
Of course that would still be the best entry point, maybe good to use laddering technique in order not to miss the trade.
What do you think about it?
+3 Reply
I mean look at past bullruns, you'll die waiting for this zone buddy ...
+2 Reply
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