SHORT TRADE SETUP: False breakout followed by price dump In this scenario, we are waiting for price to break above the high of $670 and then breakdown for us to take a short position. Entry criteria for opening a short position: 1. Price Action: Price breaks above the high of $670 and then rapidly falls below $670, forming a bull trap 2. Candlestick Pattern: A...
While Bitcoin has been the star of the Crypto Markets the last couple months, Ethereum has been slowly consolidating upwards in a rising channel, Although Ethereum has been performing really well this year through Mid year till now. But now looking at ethereum to me it looks like it wants to go, Once we clear that first order block all eyes will be on...
Ethereum (ETHUSD - Bitfinex) has completed WXY instead of ABC mentioned in earlier updates. The choppy WXY correction having ABC in Y wave was over yesterday as three wave movement and a sharp rally thereafter indicates the change of direction. Initially it looks ABC wave pattern, but wait to confirm the five wave A wave, then B correction to buy for C wave up....
ETHUSD is rising following bitcoin, it's not clear for now - is it a run to test $190-$200 2nd time or just a small pullback before further fall. Anyway I have a couple of scalp setups here. Long scalp, where we can try to buy $177-178 with target around $190, i.e buying pullback of the bullish trend (intraday). Or short scalp, I like the most, short ~ $195...
ETHUSD is extending the Channel Up on the 1D chart since December 2019 low. Currently it is attempting a break out above the 199 Resistance. Levels to watch: - The Resistance is at 225.00 while the Support at 153.50. - The former 199.00 Resistance is being tested at the moment. - The MA50 is now on the 153.50 Support. - The price is above the MA200 for the...
The ether started trading on Monday, October 21 by moving up to $178 during intraday. Buyers, however, could not hold to their gains and dropped back down to $174 without being able to escape from the downtrend channel. On Tuesday, October 22, it lost another 1.7 percent and fell even lower to $171. We found the ETH/USD pair breaking both $170 and $165 supports...