ETHEREUM 2 Bearish Rising wedges - My view - Target 2330 !
Dear traders,
Here is a new analysis for Ethereum,
Ethereum has formed 2 bearish rsing wedges and is still moving in the ascending triangle.
A picture says more than a thousand words so if you look at the chart you see it is all there ;-) The red trajectory is what possibly will happen. Of course this is a trading idea and no advice to trade.
Use stops in your trading and calculate max 1 to 2 % risk on your total funds. Leverage is very risky so I advise only spot trading in crypto's!
Targets and stop loss marked in the chart.
--> Destination target around 2330.
Good luck traders!
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👍. That motivates me to continue💚!
Here is a new analysis for Ethereum,
Ethereum has formed 2 bearish rsing wedges and is still moving in the ascending triangle.
A picture says more than a thousand words so if you look at the chart you see it is all there ;-) The red trajectory is what possibly will happen. Of course this is a trading idea and no advice to trade.
Use stops in your trading and calculate max 1 to 2 % risk on your total funds. Leverage is very risky so I advise only spot trading in crypto's!
Targets and stop loss marked in the chart.
--> Destination target around 2330.
Good luck traders!
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👍. That motivates me to continue💚!
Comment:
Lower the Stop for short now till 2700.
Comment:
Price went up to 2668 but still in the trade because stop is at 2700. Maybe there was again some fake news or a tweet? Very well possible in the crypto market.
No emotion, no bias, no bullish no bearish, just do what the charts tell you. plain and simple.
Also remember not all trades will work out always as we want but therefore you use stops!
Good trading guys!
No emotion, no bias, no bullish no bearish, just do what the charts tell you. plain and simple.
Also remember not all trades will work out always as we want but therefore you use stops!
Good trading guys!
Comment:
The target for this short is maximum the lower boundery of the triangle but with passing time my best guess is to go LONG at around 2450. Traders that is my idea not a trading advice! You really also need to look at your own charts and make decisions. Do not follow blindly nobody! You will not learn otherwise and it is an unsure feeling.
Making errors is fine, you are protected with a stop loss and risk not more than max 1 to 2 percent in any trade. Note that 5 trades in the crypto market is not good at the same time unless you devide the risk by 5. That is because it doesn;t matter in which coin you are. If Bitcoin skydive ALL alts go with it so keep it in mind!
also keep an eye on price action because I am not always at the charts.
Hope you make some nice profits!
Making errors is fine, you are protected with a stop loss and risk not more than max 1 to 2 percent in any trade. Note that 5 trades in the crypto market is not good at the same time unless you devide the risk by 5. That is because it doesn;t matter in which coin you are. If Bitcoin skydive ALL alts go with it so keep it in mind!
also keep an eye on price action because I am not always at the charts.
Hope you make some nice profits!
Comment:
Traders,
This market is very tricky!
Here we see a diamond pattern. If that breaks to the upside we are going back to the old top again. Breaking to the downside continue the traject down.
This market is heavely manipulated and you can see that clearly with the big green candlesticks with long tails suddenly going up against the trend.
See also the volume spike. This is where big market parties manipulate. To stop out, to put traders on the wrong path and use them as a yoyo!
This market is very tricky!
Here we see a diamond pattern. If that breaks to the upside we are going back to the old top again. Breaking to the downside continue the traject down.
This market is heavely manipulated and you can see that clearly with the big green candlesticks with long tails suddenly going up against the trend.
See also the volume spike. This is where big market parties manipulate. To stop out, to put traders on the wrong path and use them as a yoyo!
Comment:
BTC shows an exact the same Diamond pattern but broke already to the downside:
Comment:
Traders,
The target what I expect (even with heavy market manipulation to get you on the wrong side) is around the 2450 level as I wrote before.
When this trade is finished I will update it meantime keep your stop loss and nothing can happen!
Good luck!
The target what I expect (even with heavy market manipulation to get you on the wrong side) is around the 2450 level as I wrote before.
When this trade is finished I will update it meantime keep your stop loss and nothing can happen!
Good luck!
Comment:
Dear traders,
Some interesting points to consider before going LONG.
I wrote 2450 level and that is a possibility but let me be clear, it is not a safe trade! It is a speculative trade. When you enter with a good stop you have a controlled risk but waiting until Ethereum hits the lower boundery will reduce the risk and make a better RR trade possible.
Can ETH go lower then the lower boundery?
If we see the bearish falling wedge in ETH than yes that is possible. Also we did not re-test our inverted head and shoulder formation neckline yet. that is the green line in the chart.
Then we have always the risk that prices will want to re-test the lows we made earlyer Do not forget the weekly MACD in BTC (the crypto leader) which is looking not very healthy! You can see it in one of my analysis! Put up a new chart and plot it, see and look what happened in the past when the indicator made a cross. That is research and that is extremely important in trading! Do not follow blind anyone! You need confirmation for yourself whatever they are to feel confident in your trades. Otherwise you will have bad sleep at night! Specially when you are in the market with a too big position and a too big % stoploss. Using the 1% risk rule will help a lot in that! Controlled risk only!
Going long now is also in terms of RR not good. Because the lower and upper boundery give a RR of 1 and 1 to 2 or better 1 to 3 is better for long term results.
If you want to buy ETH or BTC for long term investing it is of less importance because sooner or later prices will be back and go higher,
Hope this helps and clarify some things better.
When I go long personally I will post that in a new fresh post. If the risk is too big in terms of reward I have absolutely no problem to sit on the sidelines like a sniper. When the target is there I pull the trigger! Best strategy there is but you need patience!
Wish you all good luck and nice profits!
Some interesting points to consider before going LONG.
I wrote 2450 level and that is a possibility but let me be clear, it is not a safe trade! It is a speculative trade. When you enter with a good stop you have a controlled risk but waiting until Ethereum hits the lower boundery will reduce the risk and make a better RR trade possible.
Can ETH go lower then the lower boundery?
If we see the bearish falling wedge in ETH than yes that is possible. Also we did not re-test our inverted head and shoulder formation neckline yet. that is the green line in the chart.
Then we have always the risk that prices will want to re-test the lows we made earlyer Do not forget the weekly MACD in BTC (the crypto leader) which is looking not very healthy! You can see it in one of my analysis! Put up a new chart and plot it, see and look what happened in the past when the indicator made a cross. That is research and that is extremely important in trading! Do not follow blind anyone! You need confirmation for yourself whatever they are to feel confident in your trades. Otherwise you will have bad sleep at night! Specially when you are in the market with a too big position and a too big % stoploss. Using the 1% risk rule will help a lot in that! Controlled risk only!
Going long now is also in terms of RR not good. Because the lower and upper boundery give a RR of 1 and 1 to 2 or better 1 to 3 is better for long term results.
If you want to buy ETH or BTC for long term investing it is of less importance because sooner or later prices will be back and go higher,
Hope this helps and clarify some things better.
When I go long personally I will post that in a new fresh post. If the risk is too big in terms of reward I have absolutely no problem to sit on the sidelines like a sniper. When the target is there I pull the trigger! Best strategy there is but you need patience!
Wish you all good luck and nice profits!
Comment:
Traders, do you think long term support has been broken?
Not yet and here is why.
Not yet and here is why.
Comment:
Guys, just posted this on another traders page but it is interesting for you also:
I think that if the trendline breaks we see much lower targets than we all think. That point is now around 33000. So a re-test of the low is a sigh the long term trend is broken and we can see 20000 soon. Point is that is has not been broken yet. A triangle in a downtrend is a continuation pattern.
We have the massive amount of money in the crypto market. Much more then ever. Inflation is getting higher with all the money printing going on in the world. 4 trillion usd in the US only and Biden want to invest 6 trillion more. The central banks print this but ... Bitcoins you cannot print, they are limited. Digital gold. So for me it is clear. I wait for a confirmationthat the trendline is holding. If so the rise will be back on untill the end of the year. because that is the cycle. But important in my opinion, trade what you see not what you think.
Happy trading!
I think that if the trendline breaks we see much lower targets than we all think. That point is now around 33000. So a re-test of the low is a sigh the long term trend is broken and we can see 20000 soon. Point is that is has not been broken yet. A triangle in a downtrend is a continuation pattern.
We have the massive amount of money in the crypto market. Much more then ever. Inflation is getting higher with all the money printing going on in the world. 4 trillion usd in the US only and Biden want to invest 6 trillion more. The central banks print this but ... Bitcoins you cannot print, they are limited. Digital gold. So for me it is clear. I wait for a confirmationthat the trendline is holding. If so the rise will be back on untill the end of the year. because that is the cycle. But important in my opinion, trade what you see not what you think.
Happy trading!
Trade closed: stop reached:
Hello traders,
This trade was hoing in the right direction and first target was hot but when the manipulation came in I had my doubts already. You can see the diamond which was broken out to the downside. The diamond itself was showing how suddenly some big funds drove the price up and down.
So what is next now. The trade was closed with the stop on 2700. If you followed intraday you would have closed it probaby little lower because of higher high was broken.
I will wait for confirmation because lot of patterns are forming but as long as the triangle is not cleared it is the question if the price will bounce or break.
Wish you all good profits and safe trading
This trade was hoing in the right direction and first target was hot but when the manipulation came in I had my doubts already. You can see the diamond which was broken out to the downside. The diamond itself was showing how suddenly some big funds drove the price up and down.
So what is next now. The trade was closed with the stop on 2700. If you followed intraday you would have closed it probaby little lower because of higher high was broken.
I will wait for confirmation because lot of patterns are forming but as long as the triangle is not cleared it is the question if the price will bounce or break.
Wish you all good profits and safe trading
happy trading!