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Ethereum / Bitcoin
Long

ETHBTC: Ethereum downtrend expires by the 22nd

By IvanLabrie
Updated
Monitor price action from here onwards, we have 2 more 2 day bars left.
If we don't have a new low, we might form an uptrend continuation setup.
  • Going long from this level might be a good opportunity (I'm already in from a bit lower, but it was a riskier entry).
  • Risk a 15 to 25% decline for a potential rally to 0.075 in the coming weeks.


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Cheers,

Ivan Labrie.
Comment
BTC started to accelerate, updating charts. The USD value of ETH is doing fine, but relative strength wise, BTC is outperforming it slightly now.
Comment
One more bar to confirm that we're basing here.
Comment
We could be seeing a double bottom here, wait for the closed bar and the time to expire before going long.
Comment
It's safe to go long ETH now.
Determine your position size based on 1-3 times the daily ATR. (I don't reccomend stops, nor leverage)
Trade active
Trade closed manually
I'd stand aside for now. Ethereum is acting like 'lack of interest' in it, due to the BTC rally.
Might consolidate for an extended period of time, not worth it to risk money on it now. I'll hold mine as a hedge to BTC, since it's a small position but I wouldn't advise you to buy now expecting any kind of move. (nor to short)
Comment
Today's action is promising, we can look to enter longs again.
Comment
I'll make a new publication.
ETHBTCtimeatmode
IvanLabrie
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