I know I know it looks like a mess
It also looks liek it could be a head and shoulders
'It's a bullflag, swith a steep falling wedge completing teh cycle ASAP before gold turns back up. HOw do I know? Look at the RSI- it's sitting on RSI30 on the W. That is an epoch turn.
ALso... its at the bottom of a channel.
Ou can see the two dominant...
No point letting this trade turn into a looser now. Two lower highs created, so some structure to help create a logical place to move the stop too. Stop will be now at 1.46825. Worry free trade now, let the market go where it wants on this pair now.
Updates to follow.
ETHUSD Still Outperforming Bitcoin
ETH rallied just under 100% from the resurrection day lows at
360 to high at 713. In that time Bitcoin rallied 50% or so.
Today Bitcoin is down 3.7% at moment and Eth is down 2.9%.
That's impressive price action by ETH for sure. So far at least.
It should be double that decline but it's less than like-for-like.
History is never quite the same as, but there is always some kind of regularity and trend of the market is changed based on the change of the psychology of parties to the transaction, whether it is technical analysis and fundamental analysis and behavior analysis, the answer can not be on the market trend is 100%.
I'm In with 2 sell limits risking same amount. Will it be triggered? Lets see.
Take profits and Stop losses can be changed, if I do so, I will update here on the chart, so if you are going to take this trade with me, like to see the updates.