Eth Pump Fake
Updated
Bulls are trying to do something with ETHUSD;
* increased buyer volume,
* a crossing on the ADX.
* MA on lower TF's are starting to tilt up.
But we're in a bear channel, forming a H&S inside of a bear flag. So keep an eye out since the projection for both is at around ~ $337, so I think we got one more leg down.
That said w/e happens with bitcoin in between could totally change things up so be trade with care.
* increased buyer volume,
* a crossing on the ADX.
* MA on lower TF's are starting to tilt up.
But we're in a bear channel, forming a H&S inside of a bear flag. So keep an eye out since the projection for both is at around ~ $337, so I think we got one more leg down.
That said w/e happens with bitcoin in between could totally change things up so be trade with care.
Note
* Mapped H&S Failed to do anything, but former head became a nice left shoulder, and we have a head. Finishing the right shoulder we could see a decent drop.
* Had to stop loss previous trade at $40 loss, but scalped back $20. Had a chance for $120 but most my sales were a lot lower. Lesson - lets get some base runs and just build up smaller increments rather than trying for that perfect hand.
* Market still seems very bearish. We're getting a few pumps here and there, but nothing to truley call a reversal.
* Bull flag on the daily is still in play, with a larger H&S inside. Projected bottom is 300. Set a staggered sell from $370 -> $340. Let's just get some bases.
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