Hello, eth recently broke above a local resistance and alot of people should have moved their stoploss under the resistance (now support). It would be a shame if the price of eth would move shortly below their stop losses and then go up again, wouldnt it?
Im planning to buy at the green bar with close stoplosses as i marked in the chart. im highly advicing to use stoploss in this setup as crypto is still overvalued, altho i think we could see a correction here to ~1700 for Eth and 25k for btc.
Longing in a bear market is risky and i would be more comfortable shorting eth at 1700 then longing here, so be careful and have risk management in place. If you feel the stop loss is too close feel free to pick your own.
If eth should just run up and dont goes to my long zone, im looking forward to shorting it at ~1700 USD.
I think Crypto is a bubble, if you buy crypto you risk loosing it completely if you dont have risk management. DYOR
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Well, with the recent "hype" about the merge it may be too low of a target to short at 1700. canceling this for now. will post a new short setup in the coming weeks.
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The Day the merge happens will propably the Day Eth has its top where i want to short. Buy the rumors sell the news as always in crypto.
@natomiggz, hard to say if it moves with the market as it is a low cap coin, but if it does it should retest the red zone. Generally its too early to buy alts as this is just a crypto correction at best. i dont know about the gtc fundamentals, didnt read the whitepaper.
Symbio_X
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@Symbio_X, but yeah, i have no strong opinion on gtc, dont rely on my view :p