Thanks for your patience for me on the ETHUSDT analysis.
Quick one guys, I spotted some interesting patterns as you know me to be a pattern TRADER.
We had SHS that hit target at where we have our present bottom at 82.01$.
We also have price keeping the downtrend channel which is so far holding firmly with a strong trendline keeping price down at every test.
Also, I spotted potential Butterfly harmonic pattern which if play well will send us down towards 104-102$ level again before major rally towards 350$.
From the chart also I spotted potential rising wedge which is almost at decision level, with price been seriously rejected at the top side of the wedge.
TRADING IDEA: I will prefer to see price testing the bottom side of the wedge at the area tagged Immediate support then go in with price action and this must follow with tight stop loss because if price break the wedge down the next target will be butterfly leg C around 102-104 zone.
Thank you and I will keep updating the chart as market develop.
Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates.
Thank you
Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active
⋅
Great long setup was spotted here with Bullish Butterfly outlook
I believe this analysis will interest you, although it has achieved all the targets. One of the major reason for shorting concern.
Trade active
⋅
Spotted the first potential Bearflag
Trade active
⋅
Market resume today with very strong Bullish outlook, we should keep our eyes on the spotted resistance level and stay patience to see price action on it.
If price break it up we must go for the pull back and long
update if possible. the fact that the top 5 is remaining stagnant and slightly bearish... hmm..
weslad
⋅
@hamie101, I will look into it, but we are still below major resistance which really call for concern
hamie101
⋅
@weslad, for me if it can trade above $168 ethusd is bullish but it is struggling and the target is around 209.33.. but it really is struggling. [bitmex] of course..
I also started to chart xrpbtc and although i did call and catch yesterdays pump i feel like it was just a deadcat bounce, and im back to being bearish on it.. sentiment around crypto has been to quick to change.. im not liking this. Hopefully, regardless we can both come out on top.
weslad
⋅
@hamie101, do let me see your chart mate. Thanks for the insight