ETH Still Long
Updated
ETH is a beast and can not be stopped...we moon sir. Not so fast my young padawan. Here is my real secret. Take an apple and toss it directly over your head. Now what happens...yes it comes back down until an equal yet opposing force stops it. That's no secret right. In crypto you have to be completely and utterly intoxicated on your favorite mind bending indulgence. I am bullish so just before backing out but well after my eyes have crossed, I toss Apple and if he hits me in the nose or eye, I know I am right and up we go. You see in crypto even winning is painful
BB/KC cross with rising momentum on March 15th, 2019 was signal to begin buying. Golden cross on April 18th, 2019 was the big signal with support for 200 MA shown on April 25th, 2019. Been slowing adding to position under $237 but have orders stacked from $166 - $204. SL will be any close below 200 MA. Take profits at $350 and 450...split cash and coins.
Not finance advice and do your own reading, researching, thinking, and planning....
BB/KC cross with rising momentum on March 15th, 2019 was signal to begin buying. Golden cross on April 18th, 2019 was the big signal with support for 200 MA shown on April 25th, 2019. Been slowing adding to position under $237 but have orders stacked from $166 - $204. SL will be any close below 200 MA. Take profits at $350 and 450...split cash and coins.
Not finance advice and do your own reading, researching, thinking, and planning....
Note
No real action but diagnosis the same. Short term we should retreat into our next buy zone which is focused around $202. As always, I am prepared for multiple outcomes but want to see ETH touch 50 MA for sign of support. This could playout in several ways and happen quickly or take days. Patience is key traders!Note
WOW. Just like btc an unexpected green candle...Daily volume yesterday had no big sellers. Giving the appearance that we done dropping and go up now. Not so fast
Possible scenario is that this pump come before even bigger dump. Seen it so many times with crypto/stocks. Until we push above $265, I am preparing for a drop. Keeping my orders open with deep S/L (below 200 MA).
Note
Still in my long and been adding below $245. Same routine with max 2% of available capital/trade. Next buy range for me is $225 zone. Either way lets manage this trade and make some REAL profits!Note
Overall market gaining strength. ETH riding upper band of KC with increasing momentum and its forming a bullish pennant. We opened at low end of pennant $245.8 and will need to break $255 to complete (close above). Could stay in range and squeeze pennant for another day or so. If the breakout fails and we drop below lower leg of pennant ($245), then we might see the dump many expected.
IMHO we close above (end of weekend) and see a MONSTER green candle. Moon sir? Yes its time to moon.
Develop a trading plan, refine your edge, and manage your trades! Happy Friday traders and may profits find you
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