Ethereum to $2k

** swing trade opportunity - trade only **

Ethereum is in a bear market, however there will be bear market rallies from time to time. This is now the expectation.

On the above 2-day chart price action has corrected 80% after a 5000% rally from the 2020 March lows. Now is an excellent long trade moment. Why?

1) The ‘incredible buy’ signal prints.

2) Regular bullish divergence. Seven oscillators are currently printing bullish divergence with price action.

3) Broken RSI resistance.

4) Everything that was said above is also true for the ETH/BTC pair.

5) Price action is testing the 0.382 Fibonacci level. Ethereum loves this level, history shows that time and time again.

Is it possible price action falls further? For sure. People are petrified. Retail traders can't sell fast enough in patient hands.

Is it probable? No.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: 1 - 2 months
Return: 2x


2-day ETH/BTC pair

Comment:

PS: Just a quick look at the tradingview ideas recently published. The masses are short by a country mile.

If you look closely you can see WW

Trade active:

** pi-cycle bottom **

The pi-cycle bottom alert prints following the buy signal. The Ethereum/BTC pair continues to be bearish therefore I only surmise this expected move is all about Bitcoin in the weeks ahead.

Trade active:

Up 30% so far..

Comment:

$100 to go until target. What happens after that? I don't know.

Trade closed: target reached:

$2k target acquired. Go me.

Comment:

A lot of messages about Ethereum price action. I get the feeling a lot of folks joined this trade after the 80% move! Club 95%, what are they like?

I simply don't know what's going to happen next, my ideas are formed on what is probable not about messages like "But the merge will make this moon!!!"

For those of you worried about short term price action, here is the 45 minute chart showing price action since the start of the month. Now tell me, what do you think is going to happen?

Comment:

I understand there might be a few folks still in this trade since the target was achieved. Now you're asking yourself what to do?

Ww says.... do nothing.

There's no 'buy' signal on the 4hr.

However decisions are not made on those time frames. On the 2-day a strong buy signal was printing and remains valid. Furthermore the 2-day / 21-day SMA is currently testing as support. If price action falls no further, that will be a strong signal going forward.

Comment:

Still a lot of messages on this token, folks still holding since the target.

If a forecast is wanted let me know below, will see what I can do...