Don't expect too much from me. I mostly trade downturns on short timeframes. I like volatility. I analyze long term patterns. I like support and resistance and look for similar patterns. I don't believe in fib levels, Elliot waves, Ichimoku, parabolae...
Decent trade possible on ETHUSD. Good risk/reward = risk 30 to gain 120.
S/L @ previous swing low around 250 USD or at your own discretion, if the price goes below that, the idea breaks.
Take profit around 400 USD, +/- 20 USD.
This is a great area to play on the ETH/BTC chart. Keep your Stop Loss tight, we shouldn't really see the ratio go below 0.078.
The idea relies on a potential H&S play with the daily RSI being extremely oversold for over 2 weeks.
Exit anywhere around 0.1, I suggest a discretionary scale-out.
Price of LTC is retarded same as in the 2013 bubble. Remember it went down from 40 to 3. It can pull the same trick this time. Tread carefully!
Start buying @ 120 and scale to 80. Sell out when it spikes. Expect to get out between 150 and 200.
Good luck, not for the faint hearted!
The marker is ripe for a correction. Even though Bitcoin is rising and breaking 3500, I don't think the rising tide can take ETH higher. There is incredibly low volume in the market, trades are driven by bots, and there is in my view a disintegration of support, i.e. there are no more bulls left in town to push this higher.
I expect a break of the ichimoku and...
The rising wedge in Ethereum is coming to a crux point of the 270-285 resistance area that was a major pivot area in the previous bear swing that took the price down to 138. The market will need to decide where to go soon.
Tread carefully. I'm waiting this one out and will trade after the market shows its intention. I will be buying after we break 285, with a...