ETHUSD: Bouncing back to ATH | 66.67% Probability!
Updated
ETHUSD has been getting a lot of attention in the crypto world lately. It recently went through a big drop in price (-25%) , but now it's showing signs that it might be bouncing back and heading bullish again.
Here's what you need to know:
ETH's price dropped a lot over the past 2-3 months, and it's been consolidating since then. According to my Free Probability Indicator, there's a good chance that ETH's price could hit a new high. Around 66% chance on the 3D chart and 62% on the daily chart which is a pretty high number!
This drop in price could actually be a good thing because it's created a big opportunity to buy ETH at a lower price. Right now, it's about 38% cheaper than its highest price ever.
If you're thinking about trading ETH, here's what you should consider:
Entry:
Wait for clear signs that the price is going up again, like breaking through certain price levels or seeing strong positive movements on the daily chart.
Once you're confident the trend is changing, you could think about buying ETH.
I'm currently looking at 4H Equilibrium to get position
Exit:
To protect yourself from losses, you might want to set a "trailing stop-loss." This means if the price starts dropping again after you buy, your sell order will automatically trigger to limit secure your running profits.
Risk Management:
Make sure you're not risking more money than you can afford to lose.
Only invest what you're comfortable with, and consider how much you're willing to lose if things don't go as planned.
This isn't any financial advice. It's just some insights to help you make informed decisions.
Always do your own research before investing in anything.
Trade closed: target reached
TP1 hit05/19/2024 ➙
05/21/2024 ➙
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Once is luck, twice is coincidence,
three times is pattern.
05/16/2024 ➙
05/21/2024 ➙
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