Long

#ETH/USD Golden Cross: Long Entry +Targets BULLISH

Updated

Hello guys thanks for coming by to this update on ETH. In my last update I said we can break the $200 level soon if the resistance trendline is broken. ETH broke the resistance yesterday.
ETH also seems to be having a Golden cross in this 2 hours chart. It did broke above the resistance trendline and waiting for a retest.
BTC pair seems bullish too which will drive the ETH price higher.
We can enter for a long entry on the retest of the rising wedge.

#ENTRY: $197 TO $205.60

TARGETS:
1. $214
2. $219
3. $226

Stop Loss: $192.

This is setup could be highly profitable if we look at the mid term targets and resistance levels.

Mid term:
Resistance:
$227
$238
$261

Look at the chart and observe how I plot my moves as per the chart.

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Also share my latest BTC update.

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ETH is holding the mid line of the channel.
If it keeps holding this channel till the daily close I expect It to pumps soon.
IF IT BREAKS TO THE UPSIDE WE CAN SPOT LONG ON THE BREAKOUT OF THE TRIANGLE.
IF IT BREAKS TO THE DOWNSIDE WE CAN ENTER IN THE GREEN ZONE ($202 TO 208)
stop loss will remain at $192.

Note

#ETH 2 hour Quick Update:

Finally entered our Green zone as per the last update.
The mid channel broke down because fo the sell off.
If It holds this green zone and trades under the channel.
I am quite sure WE WILL SEE $227 ETH SOON.

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I am grateful to every tradingview author who are working day and night to make these charts to help the community and the new followers for following me.
Let's grow together.

NOW COMING TO THIS CHART:

There's a lot of information in the chart so please observe.
The fractals show that whenever these kind of sell offs occurred we witnessed an upward rally. Take it as a bear Trap.
ETH fell into our green support area where long bids were filled.
In this chart ETH is holding the channel support so far.
The BTC pair chart for ETH also looks bullish (another reason for not being so bearish on USD pair).
85D EMA acting as a resistance so far.

CAUTION for longs:

AS LONG AS THE ETH holds the $200 Level I firmly believe It will reach 228or even $240 and the start some correction.
$200 ALSO HAPPENS TO BE A PSYCHOLOGICAL SUPPORT LEVEL .
The whole chart shows a RISING WEDGE Channel which is bearish in nature so need to be cautious.

CONCLUSION: We are LONG with two Stop losses at $198 and $191.

SUPPORT LEVELS:
200D MA : 203.50
Green horizontal support lines: $180 and $192.

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#PEACE

#ETHUSD Another BEAR TRAP or SELL SIGNAL?

Trade closed: target reached

ALL TARGETS REACHED

Cryptorphic

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