BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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More upside to come
The support and resistance levels are really holding tight forming a 4 pace count move.
The price is always reversing right at the 0.786fib retracement level.This method is just a swing trading method that has to do with trading the breakout of any major move to the upside after breakout. The breakout price signals that price(body of the candle stick) should close above the resistance before any position will be taken. position are given below. ALWAYS WAIT FOR BREAKOUT!!!
VERDICT:
BUY:$152.52
SELL:$156.46 up to $160.17
STOP LOSS:$142
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
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