EthereumLong
ETH channel and buy set up
Updated
Ether continues to march upwards and IMO is in the making of a much larger move to the upside. BTC is also setting up for this and I will post about that shortly. If you have been sitting on the sidelines it's time to start using caution and entering the markets with appropriate risk and know what the downside is.
ETH has just broken through the last upside resistance again and is approaching the most recent high of the $300 area. I would imagine that from here that we will get a sell off and retest back down to just above the $250. That's where a solid buy should be. Here is the thing we need to be cautious of right now. IF the market were to sell off, we could get a sell off in ETHUSD and the rest of crypto. So what I am looking for to enter this ETH trade is for ETH to base out right around $250 and start to move up again. Similar to what it's been doing before. The key is to make sure it doesn't break to the downside with any significance.
We'll see what the coming weeks bring!
Happy Trading,
-Sherem
ETH has just broken through the last upside resistance again and is approaching the most recent high of the $300 area. I would imagine that from here that we will get a sell off and retest back down to just above the $250. That's where a solid buy should be. Here is the thing we need to be cautious of right now. IF the market were to sell off, we could get a sell off in ETHUSD and the rest of crypto. So what I am looking for to enter this ETH trade is for ETH to base out right around $250 and start to move up again. Similar to what it's been doing before. The key is to make sure it doesn't break to the downside with any significance.
We'll see what the coming weeks bring!
Happy Trading,
-Sherem
Note
This COULD keep pushing up. We have a really clean break and so far we are just consolidating. Keep an eye outNote
This looks like a flag more then anything. pullback ain't happening - 
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