Ethereum Entry Level

POLONIEX:ETHUSDT   Ethereum / Tether USD
The price bounced from 600.00 support level and the uptrend line. RSI confirmed price reversal. When the price broke the downtrend line, we got a signal confirming possible upward movement. If the market can stay above the uptrend line, we should be ready to join the main uptrend. MACD lines give bullish sginal. ADX line falls and it tells us that bears are not so strong now. We can place pending orders for buy above the nearest resistance level and the swing high. Entry level is 750.00 with stop orders at 550.00 level. Profit targets can be 1000.00 and 1500.00 levels. You should note that the market still have potential for falling to 500.00 level at least. Use stop orders and proper trade volume .
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I'm really interested why top traders don't post about almost the same (almost copy) situation with BTC? :)
Please make TA for Monaco MCO what is your opinion about this coin?
Thank you
This week could be really interesting. BTC is very close to breaking out of the downtrend as I write this, literally just hours away. Volume has slowed down to a crawl which could be a sign of some consolidation ahead of us. Since ETHBTC has already broken out after 6 long months, this could potentially be a great setup for ETH to outpace BTC over the next few months and claim the #1 title. The flippening is nigh upon us once more.

These days I make it point to look at the BTC chart before entering any other coin since if BTC is going on, it will drag everything down with it. So it's vital that BTC is either stable or going up for other trade setups to work against the USD.
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Love the idea but I don't see it happening. I'm bullish on the ratio, and bullish on ETH, but bearish on BTC and that's going to put a damper on any major gains in the short term imho.
Bye the way, I am also long in ETHUSD
Thanks for the analysis, but you should change your risk levels. Many of your analysis profit/loss Ratio is too low. For example for this case entry: 750, Target: 1000, stop lose: 550. Potential profit: 250, potential loss: 200. Its not attractive. The optimal profit/loss Ratio should be 3. Thanks for your understanding.
1500 ya
I still don’t know if I trust the market
ETH looks like it's slowly decoupling from BTC but only time will tell if that trend continues. I'm extremely bullish on ETH long term.
+2 Reply
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