Ethereum Entry Level

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
If we look at the daily chart , we can see a retracement after 2 bullish candles. It's a normal situation and for better understanding the nature of this retracement we should look at the lower time frames. On the 4H chart we can see that price reached the area near the downtrend line. It's the resistance line and the possible reversal zone. The market bounced from this line and RSI confirmed price reversal. Price dropped below 300.00 level it can drop even lower. We have to find the possible reversal zone for up movement. If the market moves lower the support level 260.00 will be the 1st reversal zone. If we see a bullish candle at this level and RSI confirms price reversal, we'll have a buy signal for opening long trades. Buy-stop orders should be placed above the high of the bullish candle or above 300.00 level. If price reverses from this level, the new swing low will be higher than previous. It will be an additional confirmation for following up movement on the 4H and the daily charts . Profit target for long trades will be at 380.00 level.

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Comment: The main crypto markets are going to reverse and drop lower. It's better to wait for new buy signals from lower levels.
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You're like my guide light. thank you. Can you talk about your opinion? about EOS?
Hi , Thank you for the great effort
I would like to ask you a question if you dont mind
why do you think that the main crypto markets are going to reverse and drop lower.

Thank you : )
@mazoon, yes, the crypto markets have good potential for falling lower. For Bitcoin it can be 2000.00 - 1800.00 levels and for Ethereum about 200.00.
Hi DLavrov, any updates on ETH/USD?
DLavrov halfscience
@halfscience, yes, you can read here
It's going up again. Still wait for it to go down further or sell at 300 or above? I couldn't stay awake and bought in at 264.
going up now. you're sure it's dropping soon again?
DLavrov saschaberer
@saschaberer, based on the daily chart, we have good potential for falling. In order to get a new signal and confirmation for up movement, price will have to return above 300.00 level and break the downtrend line.
@DLavrov, SO what's wrong with buying now at around 270-5 ish and wait till it goed over 300 or sell if it drops again and make a little profit on the way up?
DLavrov saschaberer
@saschaberer, if you like scalping, why not? I like swing trading more )
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