ETH: wicked and ready for another leg up!
Update on ETH: as said in my crypto weekly update from earlier today before the liquidation dump: dont leverage trade ETH, if you want to buy; buy on spot and hold + I said: watch out for skake outs! All of it came to fruition... Reason to panic? No.
Same story as last week guys, same overleveraged long trades on ETH and ofcourse we will see the market maker tap that liquidity. I literally said:
"ETH doesnt seem to slow down and is slicing through heavy resistance like a knife through butter. However; watch out with leverage longs though! Lets not give the market maker any reason to bring the price back down by giving them an opportunity to wick you out. So if on the sidelines; ETH is still a good buy on spot, especially for the long term (the next 6 to 12 months)."
And what happend; the mad liquidation wick came, check my chart; a wick of 6,53% within 1 hour! This is all liquidity for the market maker and its NOT indicating a top for ETH. It simply means have had a re-accumulation. For the people who don't know; it means ETH is ready for a new leg up and the first target is the 4100-4250$ range for the coming days. The reason why is simple; the market maker needs to buy ETH to sell ETH, so that wick is him buying ETH from the market and grabbing liquidity from longs and shorts! Because there would have been people that would have shorted that wick as well but the candle fully recovered! This means there is no slowing down in demand and lets say you bought the current top; to my opinion there is no reason to worry; I believe we see ETH at 4400$ in the coming 5 to 10 days and we might even go for 5K this month! Lets see how it will play out but for now the only thing I see is an insane bullish ETH; and that only happened one other time; in 2017/2018. We have a long way to go and given I have studied some scenarios and we all need some hopium at times; I'll share my rough top range for ETH: 10 - 26K.
On the TA side; we have support from the golden pocket and we are still in a clear bull trend (obviously) and if we have some further retracements for re-accumulation you can check the retracement areas (blue, orange and red) and the bullish target areas (in green on the chart).
Also, check the updates linked below; we were all amazed about a 3K ETH just a few weeks ago, so don't worry, be happy and above all: patient!
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Same story as last week guys, same overleveraged long trades on ETH and ofcourse we will see the market maker tap that liquidity. I literally said:
"ETH doesnt seem to slow down and is slicing through heavy resistance like a knife through butter. However; watch out with leverage longs though! Lets not give the market maker any reason to bring the price back down by giving them an opportunity to wick you out. So if on the sidelines; ETH is still a good buy on spot, especially for the long term (the next 6 to 12 months)."
And what happend; the mad liquidation wick came, check my chart; a wick of 6,53% within 1 hour! This is all liquidity for the market maker and its NOT indicating a top for ETH. It simply means have had a re-accumulation. For the people who don't know; it means ETH is ready for a new leg up and the first target is the 4100-4250$ range for the coming days. The reason why is simple; the market maker needs to buy ETH to sell ETH, so that wick is him buying ETH from the market and grabbing liquidity from longs and shorts! Because there would have been people that would have shorted that wick as well but the candle fully recovered! This means there is no slowing down in demand and lets say you bought the current top; to my opinion there is no reason to worry; I believe we see ETH at 4400$ in the coming 5 to 10 days and we might even go for 5K this month! Lets see how it will play out but for now the only thing I see is an insane bullish ETH; and that only happened one other time; in 2017/2018. We have a long way to go and given I have studied some scenarios and we all need some hopium at times; I'll share my rough top range for ETH: 10 - 26K.
On the TA side; we have support from the golden pocket and we are still in a clear bull trend (obviously) and if we have some further retracements for re-accumulation you can check the retracement areas (blue, orange and red) and the bullish target areas (in green on the chart).
Also, check the updates linked below; we were all amazed about a 3K ETH just a few weeks ago, so don't worry, be happy and above all: patient!
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Comment:
Lots of people shorting ETH (I literally said the same thing last week) so ETH will rek the bears! Ride the wave, ETH isnt bearish at all! Lets go.
Comment:
Say hi to the bears and the paper hands! If you don't hold any ETH in your portfolio, you aren't investing in crypto... maybe in meme's... that's fine though, more ETH for us. I just bought some more with some recent profits, normally i don't buy green candles but for ETh its still a no brainer... Anyways my signals are silly, I should start subscriptions haha... I didn't count yet but I think my profile has over 90% profitable trades in both directions. Anyways, happy to share with the community and lets get it together guys!
Comment:
ETH UPDATE: same story, too many longs and we get wicks down to grab liquidity, tell your friends to stop leverage trading ETH. All is good, they cant bring ETH to very low prices. Instead good buying oppurtinity!
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