DLavrov

Ethereum: Workable Trading Plan with 5000$ - 10 000$ Targets

Long
BINANCE:ETHUSDT   Ethereum / TetherUS
In the daily chart , the price broke the upper line of an ascending price channel . It gave a strong bullish signal in the direction of the main bullish trend . The breakout confirmed the strength of buyers. They could update the ATH and push the price to new highs.

MACD is supporting the further upward movement. In spite of reaching the overbought zone, RSI is supporting the upward movement as well.
We can expect that the price will reach 3500$ and probably 4000$ without a deep correction. Those who bought Ethereum using the simplest bullish setups from 2000$ and MAs, have all reasons to keep holding their long positions. As an option, it makes sense to start fixing profit step by step. But I would recommend not to follow my ideas but follow YOUR trading plan for this market.

But what to do if you didn't buy Ethereum from the points where the market gave such trade opportunities?

It is a great mistake to chase the price. There is only one way that can allow buying a very small part of the coin. It is the way when you start to invest money in Ethreum, and you are going to buy the coin each money using different prices. You are going to hold Ethereum for years, and for you, 3000$ or 2000$ don't make a big difference.

For day, swing, and even long-term trading, we have to wait for a pullback in order to open long positions.
I would like to say that the perfect entry levels will be from the upper line of the price channel as well as from MAs. We will need to wait for reversal setups in the daily and hourly timeframes and open long positions after that. For the long term trading, round numbers between 5000$ and 10 000$ will be good profit targets. But of course, you have to take into consideration a bearish model. It will help you to manage your risk and capital in a better way.

P.S. And what do you think about a new ATH? Will the price reach 10 000$ or it is impossible? Share your trading plan for this market in the comments. I will be grateful if you support my work by pressing the LIKE button. Thank you!



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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Comments

wait weren't you the guy that said "this market is so corrupt and manipulated, i hate you all" or something a couple weeks ago?
+9 Reply
aklang prefabsprout
+1 Reply
Where is the next Target Price ??? this is insane
+2 Reply
You do great work, Thumbs up. Here is my view on ETH
+2 Reply
Everything depends on BTC. If BTC corrects again, then ETH will see a big correction. If BTC grows above its previous ATH, then ETH/Alt coins will grow.
The way BTC is struggling to break past $60k makes me wonder what will happen at $100k??
+2 Reply
DLavrov suitableSalami22286
@suitableSalami22286, good question! Thanks for the comment!
Reply
works2020 suitableSalami22286
@suitableSalami22286, if BTC struggles any longer how much downside do you see prior to breaking 60k again prior to considering 100k? I personally expected BTC to retrace further than it has, maybe this is still going to unfold.
Reply
jerryisasian suitableSalami22286
@suitableSalami22286, seems like alt season again. We will see a big correction on alts once BTC goes up.
Reply
c4ndym4n suitableSalami22286
@suitableSalami22286, We will see a big dump to 90K probably because of the amount of sell orders kicking in, after passing the 100k we will see a very fast rise towards 120k.
Reply
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