Ethereum Scenario Analysis - August Forecast
Hi Traders,
I want to share my simple
ETH Analysis, as we gear up for another big move.
Since the latest dump, ETH has shown positive signs of support off the 38.2% fib retracement (a must hold level for the bullish case), and currently testing the 50% level.
Basically it's now or never for ETH to make a push - if we can't hold the structure support from the 1st half of the year, as well as $200 psychology level, then it will be difficult to bolster a bullish case. But until this level breaks, I am in favor of a long trade.
Entry: $220
TP: $260, $300, $500
Stop: $190
Keep in mind, ETH is a good representation of the alt coin market in general, and these next few weeks/months will determine the fate of 90% of altcoins out there.
No mater what your convictions are here, this could go either way, so manage risk accordingly. Risk is the one thing you have full control over, use this to your advantage!
Good luck, hit thumbs up
I want to share my simple
ETH Analysis, as we gear up for another big move.Since the latest dump, ETH has shown positive signs of support off the 38.2% fib retracement (a must hold level for the bullish case), and currently testing the 50% level.
Basically it's now or never for ETH to make a push - if we can't hold the structure support from the 1st half of the year, as well as $200 psychology level, then it will be difficult to bolster a bullish case. But until this level breaks, I am in favor of a long trade.
Entry: $220
TP: $260, $300, $500
Stop: $190
Keep in mind, ETH is a good representation of the alt coin market in general, and these next few weeks/months will determine the fate of 90% of altcoins out there.
No mater what your convictions are here, this could go either way, so manage risk accordingly. Risk is the one thing you have full control over, use this to your advantage!
Good luck, hit thumbs up
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