The circled areas are where I found the most resistance in the past. Using this hopefully will determine the outlook of the future.
This trade seems more risky then normal as the past resistances never "cracked" all the way.
Buying at the first "!" Is being a little greedy in my opinion and may result in loss, the safest alternative is in the double "!!"...
Glossed over:
Interest rates are pumping, debt is getting expensive, commodities are booming (silver and electronic vehicles, DYOR) and DXY is in a massive ascending triangle (get good at TA or stay poor).
Quickpost
Potential elliot wave 1-5. Looking for an ABC correction to conclude within Wave 4. No idea if we get a triangle, running flat, some sort of...
Support retested, zone under the green green block proven to be a strong buy zone.
Bitcoin pumped on news that the U.S. Fed will be buying anything: www.cnbc.com
U.S. equities pumped in pre-market too, but retraced rather quickly. It's a bullish sign that bitcoin did not slink back under support following the news pump.
Things I am wary of:
- Bitmain 03/27...
Going Long ETHUSD -2.82% with a Demark Setup Buy Perfection signaled on the 12 hour chart and a move above the high of the 9 bar at 415.89
-Long at 415.89 or better (1st entry)
-Stop with a *12 hour bar close* below 399.13
Will look to add to this position if it moves in our direction.
