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without_worries
Jul 6, 2022 11:52 AM

Ethereum to $2k Long

Ethereum / USD CoinBinance

Description

** 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...
Comments
dualmass
Lmao how is this guy not broke?? Oh yeah he’s still begging for money
without_worries
@dualmass, 'How is this guy not broke?', simples... I use reason rather than angry hyperbole.
without_worries
@dualmass, 'How is this guy not broke'. I hope by now your question is answered. But I doubt it.
fadz911
👏👏👏
fadz911
You hit the target again chief 👏👏👏 !!
without_worries
@fadz911, WOohoO :) I feel a MC Hammer song coming on...
GaryZmywara
This is rather interesting as what you are essentially doing is handing out financial advice that leads to you having a financial gain through external services, but then it says "Not investment advice" at the bottom of your post. I really do wonder if in the court of law this would fly, I sincerely hope not as what it comes down to is you making up all this bullcrap without any repercussions and even making money on it risk free through donators while people are actually losing their investments when testing these silly ideas.
without_worries
@GaryZmywara, So you got rekt going long into a short trade? Well done.
GaryZmywara
@without_worries, This is exactly the thing, you're making yourself believe that your take on reality is most accurate when in fact you have literally no idea, be it regarding my investments or financial markets in general.
without_worries
@GaryZmywara, What nonsense are you spouting. This is 'tradingview.com', if you're on this site you accept the terms of service like everyone including myself.

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