What a BULL can do?
Ok, so the bulls bled this weekend! ETH lost the trendline, the 21 ema, and found support only at the zone of the black line we draw earlier (previous top), and now the price is struggling in this zone. We are ok here, since we have a lot of fat to burn since our last trade in ETH. We were the bulls from that harami-cross at the chart all the way up to the 61.8% fib retracement, and links of this trade are all bellow. And remember to follow me to keep updated of our analyses and trades.
I like to put a sell order at the engulf’s low, it’s a technical stop. I’m not completely out yet, I still have half of my position because I did a successful hedge using BTC. Check my BTC analysis for more details, link bellow. But we must think about what to do next.
If you are with the bears, watch out if the price close above that black line. Just keep your eyes open and be ready to get out if anything happens. But if the price close above that yellow line then the pivot will be cancelled, and the bulls will have the upper hand. Now let’s see the hourly chart for more confirmation:
Here we see how important it is for the price to close above the pink line, and most important, the yellow line. It did a triple bottom at the red line and now it’s trading between the red and pink line. Let’s see if the bulls will keep the prices above, and if not, the next support ETH will seek is in the daily chart, more precisely that red line at U$ 165. That's what we have for ETH, and that's what the bulls should be looking at.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
I like to put a sell order at the engulf’s low, it’s a technical stop. I’m not completely out yet, I still have half of my position because I did a successful hedge using BTC. Check my BTC analysis for more details, link bellow. But we must think about what to do next.
If you are with the bears, watch out if the price close above that black line. Just keep your eyes open and be ready to get out if anything happens. But if the price close above that yellow line then the pivot will be cancelled, and the bulls will have the upper hand. Now let’s see the hourly chart for more confirmation:
Here we see how important it is for the price to close above the pink line, and most important, the yellow line. It did a triple bottom at the red line and now it’s trading between the red and pink line. Let’s see if the bulls will keep the prices above, and if not, the next support ETH will seek is in the daily chart, more precisely that red line at U$ 165. That's what we have for ETH, and that's what the bulls should be looking at.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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