ETH: Bulls need to be awakened soon to lead the Crypto sentiment
ETH did make an extremely bullish run phrase. What I am looking at the support area (white box), where ETH needs to find some “last hope in support area”, that could likely be a great LONG chance.
I’d consider that while ETH broke out my Pitchfork channel price on 13 April, that could be a signal for the new price action phrases in ETH.
Market structure: Super bullish, parabolic. 2000-2150$ (below this area, this trade could be reconsidered or even invalid)
Entry: 2000 – 2180$
(looking for a strong candle patterns, rejection in price action, at the demand zone, BE CAREFUL cuz there is a risk that ETH could make an impulsive RED candle to retest its EMA 200, yellow line below)
Stop loss: below 1900-1950$.
Taking profit:
• Target 1: 2300-2400$
• Target 2: 2500$- last ATH
• Target 3: new ATH (however I tend to be less positive in ETH, due to the bad signs from BTC and Crypto market OVERBOUGHT conditions).
What if we just create an equal high or even a little bit higher than the previous high + RSI MACD divergence >>> BIG SHORT is perfectly timing.
The main bias in ETH chart is still bullish, however a big correction is necessary in last May or June to attract more buyers in the demand zone (below 1700-1900$)
Thank you for any comments and sharing.
I’d consider that while ETH broke out my Pitchfork channel price on 13 April, that could be a signal for the new price action phrases in ETH.
Market structure: Super bullish, parabolic. 2000-2150$ (below this area, this trade could be reconsidered or even invalid)
Entry: 2000 – 2180$
(looking for a strong candle patterns, rejection in price action, at the demand zone, BE CAREFUL cuz there is a risk that ETH could make an impulsive RED candle to retest its EMA 200, yellow line below)
Stop loss: below 1900-1950$.
Taking profit:
• Target 1: 2300-2400$
• Target 2: 2500$- last ATH
• Target 3: new ATH (however I tend to be less positive in ETH, due to the bad signs from BTC and Crypto market OVERBOUGHT conditions).
What if we just create an equal high or even a little bit higher than the previous high + RSI MACD divergence >>> BIG SHORT is perfectly timing.
The main bias in ETH chart is still bullish, however a big correction is necessary in last May or June to attract more buyers in the demand zone (below 1700-1900$)
Thank you for any comments and sharing.
Comment:
First Target 1: Reached
Comment:
Second Target 2: Reached
Comment:
Third Target 3: Reached, new ATH.
As I said, ETH is still holding above the Swing low, no Lower Low at the moment, even though BTC and other Altcoins made a huge drop to retest the their support areas. ETH is one of the best positive chart I could see in the Top 10 coins.