What did ETH mean by this?
Updated
>implying
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not sure what more confirmation one would need here.
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Ill add this, basically at this point its an amazing entry with low risk, if it breaks the first line which looks like a low probability, the next stop would be the horizonatal resistance on the 2nd line. if it breaks the second line, it would either go bounce off the long term trend line #3, or break through. If it breaks #3 I;d be out of ETH for good, if it goes back up and retests #2 I'd wait to see if it breaks through, breaking it un contested would be a good signal. If #2 resists it after the bounce, it would just continue down.
So I plan to hold my long from a day ago, watch it crawl up the #1 line with a short tight stop below the line (not too tight in case it just plays around with it. But if it breaks it hard goes too far, ill scale out of the long, and follow the guidelines above.
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So far so good, looks lke we may have so new dynamic support levels below, but now its gone up enough we can loosen our stop a bit and have some play room, the dark red lines are still the most important to watch, but that was some good respect of the trends/support.Comment
boom goes the dynamiteComment
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