Needs to hold inside this channel that started in December of 2016.
I am buying ETH at this level and will only sell if it breaks below that long term parallel channel. It Looks like it should rally from here. The only thing that looks bad is the Stoch RSI is at the very top on the daily. Still the momentum is turning up and sentiment is trying to turn bullish. This is a low risk to reward trade idea even in a bearish trend (we are still in a mid term bearish trend - do not think otherwise yet). A break of $365 would be concerning, but otherwise I am buying.
CMF shows higher lows. MACD has momentum moving bullish. RSI is low and moving up, but keep an eye on it and if it can pass 50. Stoch RSI is a concern, but with RSI so low it could just mean a pump and then consolidation is coming.
This is a simple idea. Sometimes the best ideas are simple. The third law of Technical analysis is "History Repeats Itself" and ETH has bounced on this channel 3 times before during this Long term bullish trend (we are still in this trend)
This is not financial advice. I am not your financial adviser. This is for educational purposes only.
I am buying ETH at this level and will only sell if it breaks below that long term parallel channel. It Looks like it should rally from here. The only thing that looks bad is the Stoch RSI is at the very top on the daily. Still the momentum is turning up and sentiment is trying to turn bullish. This is a low risk to reward trade idea even in a bearish trend (we are still in a mid term bearish trend - do not think otherwise yet). A break of $365 would be concerning, but otherwise I am buying.
CMF shows higher lows. MACD has momentum moving bullish. RSI is low and moving up, but keep an eye on it and if it can pass 50. Stoch RSI is a concern, but with RSI so low it could just mean a pump and then consolidation is coming.
This is a simple idea. Sometimes the best ideas are simple. The third law of Technical analysis is "History Repeats Itself" and ETH has bounced on this channel 3 times before during this Long term bullish trend (we are still in this trend)
This is not financial advice. I am not your financial adviser. This is for educational purposes only.