Extremely Bullish ETH/BTC June Quarterlies
Updated
To start out, I normally think of head and shoulders as just a meme that doesn't work. With that said, a true head and shoulders that has been proven to be correct more often that not is defined by having high volume at the troughs or peaks of the head and shoulders. In addition to that, I don't necessarily believe in the head and shoulders being necessary but rather just dips with large volume and intense bounces on several dips. This is a picture perfect example of that. In addition to this, ETH/BTC has been consolidating for days under the neckline of the inverse head and shoulders which just so happens to be the highest it has ever been, so naturally there will be resistance. Just like when the dow couldn't break 10k years ago. It probably did a head and shoulders type thing until enough sellers were shaken/stopped out one of the breakout attempts. Each time we touch the neckline we're stopping/liquidating more sellers, some of whom then panic sell much lower and provide fuel for an upward squeeze on the next breakout attempt. We've been setting higher lows as we bounce between the neckline and the trendline. When it breaks, which it appears will be approaching soon, expect a big pop.
We have a nice bullish divergence on the on balance volume oscillator which is like RSI on steroids. What more can I say, this is a great to buy eth, especially leveraged because the downside is minimal (cut your loss below 8400 satoshis) and the reward is.... a lot.
Get funding free futures on bitmex (leverage without any fees for the leverage essentially).
My promotional link below will get you 10% off all fees as well. Yes, I get a small commission on it, so if you have any questions or need help all my referrals will be my priority to help out. I pay thousands a week in fees, but it's pennies compared to what you can make. Also haven't found lower fees in general anywhere else.
Watch this pop. It's gonna be fun.
We have a nice bullish divergence on the on balance volume oscillator which is like RSI on steroids. What more can I say, this is a great to buy eth, especially leveraged because the downside is minimal (cut your loss below 8400 satoshis) and the reward is.... a lot.
Get funding free futures on bitmex (leverage without any fees for the leverage essentially).
My promotional link below will get you 10% off all fees as well. Yes, I get a small commission on it, so if you have any questions or need help all my referrals will be my priority to help out. I pay thousands a week in fees, but it's pennies compared to what you can make. Also haven't found lower fees in general anywhere else.
Watch this pop. It's gonna be fun.
Note
Couple fundamental and speculative thoughts on the futures. Almost all the futures, even the 6+ month out futures are near the same price as the present price. I think there's a lot of uncertainty in crypto at this point but as it becomes more clear, the quarterlies could rocket even faster than the coin. And you can get leverage on here for literally 0 fee..? Hold for as long as you want? Like wtf... it'd be stupid not to in my opinion. Look at this graph.Does this look like it's going down? Nope, it looks like it's been going directly up for weeks on end. That's when you ride the trend. The eth/btc pair isn't quite the same. But the quarterlies. And there's no funding cost. It's retarded. Do some research on it and use my link below. It's the truth and it's a very nice edge in trading to have no funding fees at all.
Note
I'm gonna ride it. Move my stop up frequently, and when the trend is over I'll be a happy man. You're welcome to join.Trade closed: stop reached
Sorry I forgot to update this, but my stop was hit at 84000 as planned. Didn't go as planned at all, but a trade with a small loss, good entry, and tight stop is something to celebrate. "Celebrate your small losses."
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.