Ethereum ETH detailed road map for the coming weeks! Target 2170
Dear friends!
Here we see my second favorite coin Ethereum. My first is Bitcoin and it will remain so because it is the leader of the entire crypto market.
The puzzle pieces have to fit together to make a plan. That is what I am trying to do here, to make it logical and according what the charts is showing.
Currently we have broken through the neckline of orange main shoulder formation, Ethereum has formed a bear flag and has broken out downwards there as well. My idea is therefore we are going irrevocably to the target of this HS at 2180. However, we also see that we are forming a Bullish falling wedge which however is not yet complete.
The key point in time and price would then be June 14 with a price of 2180 after which we can break out of the wedge upwards. The target of the Bullish falling wedge is therefore exactly the descending trend line over the tops of Ethereum.
However, if we break below 2100 then we will soon face the old bottom. However, I do not expect that to happen! Please note because in the longer term we have still set lower tops, after reaching the downward trend line over the tops we do need to break at least the 3000 USD with a day candle close to then get back to a full bullish scenario with old All time high in prospect.
Dear traders, this is a likely scenario but not a guarantee of course. However, for me the puzzle pieces fit together perfectly so the probability of this scenario coming to fruition is all the greater.
When you short do place a stop above 2500 USD with a short target of 2170. After that and if the bottom holds, back towards 2500-2600 USd. Nice moves where a lot of profit can be made.
Warning:
If the bottom does not rebound at 2200 USD, Ethereum will first seek the bottom at 1725 and possibly follow up with a target of 1300 which is the target of the broken large bullish triangle
Good luck with trading!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Here we see my second favorite coin Ethereum. My first is Bitcoin and it will remain so because it is the leader of the entire crypto market.
The puzzle pieces have to fit together to make a plan. That is what I am trying to do here, to make it logical and according what the charts is showing.
Currently we have broken through the neckline of orange main shoulder formation, Ethereum has formed a bear flag and has broken out downwards there as well. My idea is therefore we are going irrevocably to the target of this HS at 2180. However, we also see that we are forming a Bullish falling wedge which however is not yet complete.
The key point in time and price would then be June 14 with a price of 2180 after which we can break out of the wedge upwards. The target of the Bullish falling wedge is therefore exactly the descending trend line over the tops of Ethereum.
However, if we break below 2100 then we will soon face the old bottom. However, I do not expect that to happen! Please note because in the longer term we have still set lower tops, after reaching the downward trend line over the tops we do need to break at least the 3000 USD with a day candle close to then get back to a full bullish scenario with old All time high in prospect.
Dear traders, this is a likely scenario but not a guarantee of course. However, for me the puzzle pieces fit together perfectly so the probability of this scenario coming to fruition is all the greater.
When you short do place a stop above 2500 USD with a short target of 2170. After that and if the bottom holds, back towards 2500-2600 USd. Nice moves where a lot of profit can be made.
Warning:
If the bottom does not rebound at 2200 USD, Ethereum will first seek the bottom at 1725 and possibly follow up with a target of 1300 which is the target of the broken large bullish triangle
Good luck with trading!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Trade active:
Right on track!
Dear friends, we are right on schedual and the target of 2300 USD as I wrote in my last update is almost there.
Stop for short is 2500 USD
Dear friends, we are right on schedual and the target of 2300 USD as I wrote in my last update is almost there.
Stop for short is 2500 USD
Trade closed: stop reached:
Position is closed because of a breakout from a tendline + BTC breakout.
New position is now LONG with a first target of 2600 USD.
New position is now LONG with a first target of 2600 USD.
Comment:
By the way dear friends. The best buy moment after a breakout is at a re-test. the reason is that just after a breakout the coin is usually overbought and it will come back to re-test. Have a little patience is the best and you can buy it at a lower price also!
Good luck!
Good luck!
Comment:
So now we are in a long position from 2450 and is already a nice profit!
Add to the position on a re-test of the breakout line is a very good method. Price always re-test and you buy it cheaper. There are now negative divergences forming on shorter time frames.
Succes friends!
Add to the position on a re-test of the breakout line is a very good method. Price always re-test and you buy it cheaper. There are now negative divergences forming on shorter time frames.
Succes friends!
Trade closed manually:
Dear friends,
I close the position. I will wait untill BTC has touched the neckline of the Inv HS formation. As long as this neckline is not re-tested it is risky to go long. Also we are in the middle of the triangle. The risk on the markets is still high. You see it at the rise of Bitcoin and the smaller rise in Ethereum.
If I open new trades it will be in a complete new post.
Happy trading friends
I close the position. I will wait untill BTC has touched the neckline of the Inv HS formation. As long as this neckline is not re-tested it is risky to go long. Also we are in the middle of the triangle. The risk on the markets is still high. You see it at the rise of Bitcoin and the smaller rise in Ethereum.
If I open new trades it will be in a complete new post.
Happy trading friends
Comment:
If btc dominance change it could be amazing for the ALTS which can gain a lot.
For now I see Etherum going to the blue line in the chart. Target around 2700 and then a new (healthy drop).
For now I see Etherum going to the blue line in the chart. Target around 2700 and then a new (healthy drop).
Comment:
We will probably drop to 2350-2250 as Ethereum has fallen out of a wedge. Also, keep an eye on Bitcoin dropping to the neckline.
Good luck dear friends
Good luck dear friends
Comment:
Comment:
In general, there is very little volume in the increases of ETH and BTC. That makes it suspicious. We are in a range and I expect this range to continue for some time.
Comment:
I currently see many fundamental and technical factors. that could indicate a drop to 1600 within a week's time. I sincerely hope this will not happen but keep in mind that it could. This is not trade advice but an idea, a possible scenario that I personally take into account. Until there is more clarity I am not going to take a long position.
You can go long or short but you can also stand on the sidelines for the very best opportunities. That takes patience and is certainly not suitable for traders with fomo.
Chasing the price is often a bad idea. Buying on bullbacks is a good idea but to buy on a pullback the higher trend must be up because otherwise you are trading against the direction and your stop will be hit quickly.
To go long on Ethereum much more safely it will first have to close above 3000.
Good luck dear friends!
You can go long or short but you can also stand on the sidelines for the very best opportunities. That takes patience and is certainly not suitable for traders with fomo.
Chasing the price is often a bad idea. Buying on bullbacks is a good idea but to buy on a pullback the higher trend must be up because otherwise you are trading against the direction and your stop will be hit quickly.
To go long on Ethereum much more safely it will first have to close above 3000.
Good luck dear friends!
Just a small update here.
I could change the trendline a little and we see it has still not broke out. Trendlines always need to be re-adjusted because there are several ways to draw them. Over the wicks, the open, the close of a candle. the more data you have the more secure you can position it. it is a dynamic process.
When price close above +2500 we are on the way for higher targets.