ETH needs Meth - This is what you should be planning for
Morning traders! Its all in the charts.
- For risk takers, we have touched the long term trendline so you can consider a small long position to target 190 levels again
- Below current levels would confirm a bear reversal and a straight drop to 130-150 which would be the final frontier to accumulate
- If we cross below 98, i would say everything has ended (extreme scenario)
Some points to keep note in such a market:
- These rapid falls indicate panic, frenzy and irrationality, due to the coronavirus.
- People are selling everything, including crypto, and fleeing to cash/gold.
- We need new money beyond retail investors to flush the market and fight the bears
- Sub 180 levels are generally good for buying and HODL
- Expecting a risk-on sentiment across financial markets globally by end of the month meaning we could see some consolidation before the next big movement by end of month
- Expect a lot of fakeouts/sucker rallies/dead cast bounces as this is a field day for institutional/whales who can generate more volatility on lower volumes
- Low leverage positions are advised and keep dry powder with you to buy the dips - DON'T OVERSIZE POSITIONS
- Don't keep watching the charts every minute if you cannot stomach current volatility, else you will trade on emotions which will certainly negatively affect your choices
- Stay safe and trade your plan; if you aren't sure don't take a position
Press the Like button if you think my ideas were helpful. I will continue to generate more content on this platform.
The above is a scenario which could potentially play out. It is not financial advise
Follow me on twitter and telegram with the same name TameBTC for free updates/analysis/signals on the crypto and other markets.
- For risk takers, we have touched the long term trendline so you can consider a small long position to target 190 levels again
- Below current levels would confirm a bear reversal and a straight drop to 130-150 which would be the final frontier to accumulate
- If we cross below 98, i would say everything has ended (extreme scenario)
Some points to keep note in such a market:
- These rapid falls indicate panic, frenzy and irrationality, due to the coronavirus.
- People are selling everything, including crypto, and fleeing to cash/gold.
- We need new money beyond retail investors to flush the market and fight the bears
- Sub 180 levels are generally good for buying and HODL
- Expecting a risk-on sentiment across financial markets globally by end of the month meaning we could see some consolidation before the next big movement by end of month
- Expect a lot of fakeouts/sucker rallies/dead cast bounces as this is a field day for institutional/whales who can generate more volatility on lower volumes
- Low leverage positions are advised and keep dry powder with you to buy the dips - DON'T OVERSIZE POSITIONS
- Don't keep watching the charts every minute if you cannot stomach current volatility, else you will trade on emotions which will certainly negatively affect your choices
- Stay safe and trade your plan; if you aren't sure don't take a position
Press the Like button if you think my ideas were helpful. I will continue to generate more content on this platform.
The above is a scenario which could potentially play out. It is not financial advise
Follow me on twitter and telegram with the same name TameBTC for free updates/analysis/signals on the crypto and other markets.
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.