- short to 200 MA around $4,600
- long the test of the 200 MA to new highs around previous congestion area
- short the new highs for a big retest of the breakout area around $4,250
A big move is coming after a long consolidation. I think the move will start in the next 10 days.
A break of $150 will give you an entry for a long trade
A break of $130 will give an entry for a short trade
ETHUSD is forming a triangle on 4h chart. I have used the daily chart however to show how this pattern fits in the larger timeframe. It fits perfectly with the bigger trend lines and the horizontal support and resistance.
Short at $131 or lower. (wait for a confirmed 4h candle close bellow $131)
ADABTC is breaking out of a triangle on daily chart. Also retested the breakout which is the best time to enter a long.
Buy at 1150
A break above 1200 is needed to accelerate the move.
A very clear bearish RSI divergence on daily chart.
MACD cross over
Long term resistance can bee seen on weekly chart.
Short in the area of 0.01225-0.01275 - the higher the better :-)
Price could not even retest the breakdown at $3,500. So far it looks very bearish with no strength on any rally.
There is a potential setup of bullish RSI divergence on 4h chart. If we make a new low at $3,300 and a higher low on the RSI.
$3,300 should be a buy on the first touch.
Next support is near the lows around $3,200. Bellow that we are going to start...
I doubt it, but if we get another touch of the semicircle triangle around the $3,850 resistance it will be a really good chance to short with a potential measured profit of about 36%.
This will also enter the long term area that I am targeting for long term longs. ($1,870 - $2,450)
Short at $3,700 - $3,850
Stop at $4,000
A very simple descending triangle is forming on 4 hour chart. These have a high probability of success on ETHUSD and have played out many times in the past.
A 4h close bellow $115 will give us a target of $100
Short below $115
Stop at $117
Resistance level around 0.0000122
Support level around 0.0000112
Until these levels are broken trades can be taken to play the range:
Short the resistance level and cover near support
Long the support level and sell near resistance
Keep tight stops under/over support/resistance
Once we have a confirmed 4h candle close under support order over resistance you can...