ETH building a pennant, already in a position from the $494-498 region however will add more at the test of the support around $504-505, expecting a breakout to the upside as long as Bitcoin plays ball. Targeting the $580 region which will now be resistance. ETH has tested the $489 S/R flip from back on the 01st September perfectly & we've seen a good reaction initially, because of the uncertainty around Bitcoin price action & the possibility of another leg lower down to the $14,500 area, it will be wise to Tether up around $580 to see how Bitcoin price action plays out.
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ETH with a retest, if we can break through $520.31 it should build momentum.
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Taken half off the table here at $547.
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Setting a re-buy order around the $531 area for the portion taken off at $547, ultimately still looking at $580 area to Tether up and await a potential rejection at resistance or a flip of resistance at 580 into support.
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Buys looking good here down to $528, will be watching for LTF RSI bullish divergences.
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Rebought the half taken off at $547 (average buy - $531.50), should see ETH push up towards $580 after $548 breaks.
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Closed 50% of this position, BTC isn't looking too strong on the LTF & ETH/BTC is breaking down on the 1HR RSI.
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Ethereum closing in on the $580 target, still have 50% of the position open.