This Trade coincides with my previous idea revolving around BTCUSDT and its possible price action. Currently we are watching for how BTC moves towards it's retesting of the bottom channel of the dump wick; if our current Short to Long strategy comes to fruition and BTC makes one more rally towards 53K then it is expected for ETH to make one more movement towards the 4400 marker. Due to my personal love for ETH I will not be providing a short strategy as I will not be engaging in a short position. We will then be looking for ETH to retest the bottom channel with main emphasis on the 3800-3900 Range; with the possibilities of:
A) finding support at $3800-3900 range, where we will then begin preparing to open our long position for reversal
B) ETH falls through the $3800-3900 range and retest the bottom channels of the wick; where we will then be watching to see how price reacts off the $3500-3600 range. If ETH find bottom in this range we will then begin to prepare our longs
* Yellow display ETH's predicted price action if BTC makes one more fake out to 53K before retesting lows
* Orange Indicated ETH's predicted price action if BTC continues its descend to retest lows
* Should of probably drawn a line for possible price action of 3500-3600 range reaction but you get the idea
A) finding support at $3800-3900 range, where we will then begin preparing to open our long position for reversal
B) ETH falls through the $3800-3900 range and retest the bottom channels of the wick; where we will then be watching to see how price reacts off the $3500-3600 range. If ETH find bottom in this range we will then begin to prepare our longs
* Yellow display ETH's predicted price action if BTC makes one more fake out to 53K before retesting lows
* Orange Indicated ETH's predicted price action if BTC continues its descend to retest lows
* Should of probably drawn a line for possible price action of 3500-3600 range reaction but you get the idea