Ethereum (ETH) Looks like Ethereum wants to push up to 232.
Updated
The past two trades I have made 7% and 4% on Ethereum. Right now it looks like the 215 resistance may be broken.
Ethereum keeps testing the 215 level, and is slowly moving down indicating resistance. However, upon the chance we break 215, wait for a retracement before going long with a target at 230+.
Buy:
215 USD
Take Profit:
232-36 USD
Stop Loss
210
However, we have a much safer trade by shorting under the 215 level, so we can have a very tight stop loss and reduce our risk.
Short:
213 USD
Take Profit:
203 USD
185 USD
180 USD
If price action seems weak, I will set a take profit above the current price so I may ride another wave down.
Stop Loss:
215/216 USD
Thanks for viewing! I am current short Ethereum from 213.5 on Bitmex. For people who are new, this trade will be continuously updated until the trade is closed. You may follow me to keep track on this trade, and I expect it to close within the next 48 hours. Feel free to ask if you have any questions.
Ethereum keeps testing the 215 level, and is slowly moving down indicating resistance. However, upon the chance we break 215, wait for a retracement before going long with a target at 230+.
Buy:
215 USD
Take Profit:
232-36 USD
Stop Loss
210
However, we have a much safer trade by shorting under the 215 level, so we can have a very tight stop loss and reduce our risk.
Short:
213 USD
Take Profit:
203 USD
185 USD
180 USD
If price action seems weak, I will set a take profit above the current price so I may ride another wave down.
Stop Loss:
215/216 USD
Thanks for viewing! I am current short Ethereum from 213.5 on Bitmex. For people who are new, this trade will be continuously updated until the trade is closed. You may follow me to keep track on this trade, and I expect it to close within the next 48 hours. Feel free to ask if you have any questions.
Note
Notice how the bulls cannot push the price up past previous highs indicating lack of buying pressure.
Note
The stop loss on Bitmex will be 215 but on Bitfinex I recommend a stop near 216 due to the price always being slightly higher than Bitmex.Note
So far not much is going on, Bitcoin rallied higher but Ether is still stuck in this range. This is similar to the Bitcoin 7300 rally where Ethereum could not break new highs.
Trade active
Wow this took a while, but we did get that breakout.Long active.
Note
Buy zone 218, on my alternate Bitmex account, I am short since 222.60. I will take profit 220-218. Stop is 223.50.
Do not buy into a pump. Wait for a retrace. If you end up longing on high buy volume, you will have a very bad entry.
Note
Small timeframes the the way to go during crazy moments like this. We are currently developing a bull flag. 223.5 is the area to break for another move up.
Note
I believe the flag is developed enough. Look for slowing sell momentum near 219 or 217 to buy.
Note
223 broken
Note
Note
Strong selling. We may push up but this will mean another round of consolidation. Good for trading in this zone.
Note
New chart updated. Please view.
Trade closed: target reached
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