ETHEREUM ($ETH): Can the ETH Whales Pump JK Rowling's Bags?
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JK Rowling might have been jk when she said she had significant Ethereum holdings, but honestly it is looking like it wouldn't have been such a bad play for her. Ethereum 2.0 news is still rolling out, and price is still trending up. Our last ETH trade worked like gangbusters, so let's stick with what works.
Resource: decrypt.co/29193/jk-...nt-ethereum-holdings
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe as ETH continues to show strength.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry above the S1 S/R flip with a target of R2. The logic here is that we have been consolidating under R1, so if we finally break R1 then R2 is a logical target.
4. Our stoploss is placed below the S1 cluster with the expectation of that cluster damping any move down. We will exit the position if our stoploss is hit or if Fractal Trend changes color.
5. If we do go lower, we expect a reaction off of S2/S3/S4 as they seem to be quite substantial support levels below us.
Like, Comment & Follow to help the community grow 🎉🎉
---
JK Rowling might have been jk when she said she had significant Ethereum holdings, but honestly it is looking like it wouldn't have been such a bad play for her. Ethereum 2.0 news is still rolling out, and price is still trending up. Our last ETH trade worked like gangbusters, so let's stick with what works.
Resource: decrypt.co/29193/jk-...nt-ethereum-holdings
---
1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe as ETH continues to show strength.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry above the S1 S/R flip with a target of R2. The logic here is that we have been consolidating under R1, so if we finally break R1 then R2 is a logical target.
4. Our stoploss is placed below the S1 cluster with the expectation of that cluster damping any move down. We will exit the position if our stoploss is hit or if Fractal Trend changes color.
5. If we do go lower, we expect a reaction off of S2/S3/S4 as they seem to be quite substantial support levels below us.
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