Crushing 346?

Updated

Hope you had a great ride from that 320ish buy I posted earlier. The 340 was crushed through and now lets see 346, much stronger resistance expected here but big upside to next crazy levels at 349. New support at 343 after breaking 340. Lets see about going through 346. I've put a trailing stop 3 so I can sleep in peace.

Trade closed: target reached

Yeah, so it retested the bottom of the "wave channel" all the way down at 335 and then broke through up again through the 340, 344, 346 and finally 349. So now its at 353 and the target was 354/356 seen from a Fib extension perspective.

Glad I had my limit and stop set so I could sleep and still get out high.

Note: point D at 346 was the end of wave 5 after the massive rally IMHO. This means we are out and away for now from the double head shoulder.

I just opened at 349, stop at 346 and limit at 362.

I have to do some fundamental analysis now if the market cap of ETH at 360 range is merited versus the market cap of the contracts, companies, ICOs etc. is priced correctly versus the expectation value of Putin's quasi endorsement.

Let me know if you agree - thoughts?

Note

Yeah - I'm going to close out now ish and then limit buy at 354-356 where new support might build plus at 346. Hope you had a nice ride!

bernino

Also on:

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.