ETHEUR: Fiat chart looks strong
Updated
If we break out here we'll get a confirmation in the daily timeframe, although I suspect that we will remain sideways for longer, forming an accumulation range until the market is ready to advance.
If we hold in this zone, we have more than enough reasons to hold our long term longs, and once the trend fires, we can focus on intermediate term and short term trading signals to complement our investment/position trade.
Potential upside in the short term matches the monthly mode resistance, so it is extremely logical and likely to see price go back to the 10 handle or close. I'm interested in seeing if we eventually break it, and hold above, to confirm further, potentially incredible upside over time.
Good luck,
Ivan Labrie.
If we hold in this zone, we have more than enough reasons to hold our long term longs, and once the trend fires, we can focus on intermediate term and short term trading signals to complement our investment/position trade.
Potential upside in the short term matches the monthly mode resistance, so it is extremely logical and likely to see price go back to the 10 handle or close. I'm interested in seeing if we eventually break it, and hold above, to confirm further, potentially incredible upside over time.
Good luck,
Ivan Labrie.
Note
First logical target hit...in one day!It could retrace a bit, but likely continuing higher. It could easily reach the 2nd target, or go twice as far in the short term.
Note
...yep, new high right away.s3.amazonaws.com/tradingview/snapshots/w/WB2Oe4Aa.png
Didn't get low enough to add...
Note
If we close and hold above 9.86 we can expect further (and very significant) upside eventually, let's wait and see.
Note
I'm still holding.
Note
We have some shorter term opportunities here, I think we won't go back to our entry ever again, ideally, we want to see the market hold in this zone above the light blue box, and consolidate until it breaks the long term resistance above. It will probably take until March give or take, you can buy oversold dips since the daily trend is now up. After it gets oversold, buy into strength.
Note
Today the daily uptrend time expires. If we don't go down from here, and we just stay in this zone sideways for a while, we can expect the rally to resume in time.Note
New bullish signal: s3.amazonaws.com/tradingview/snapshots/s/soVutAsM.png
Monthly resistance still implies it'll take 2-3 months to break out of the monthly accumulation range, so, be patient.
Note
Note
We've finally tested the downtrend speedline, there's significant odds we break higher.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.