ETHUSDT
Updated
ETH i currently testing our daily rsistance.
2 scenarios like BTC:
1/ Either we flip our local resistance as new support and we go directly to 4K
OR
2/ We have a rejection from here and we could open a SHORT trade at the second restest of this resistance.
Note: If we flip the resistancehere, we are confident enough to open a LONG as we can see ETH formed a double bottom on the 4h chart, which is a strong bullish structure
2 scenarios like BTC:
1/ Either we flip our local resistance as new support and we go directly to 4K
OR
2/ We have a rejection from here and we could open a SHORT trade at the second restest of this resistance.
Note: If we flip the resistancehere, we are confident enough to open a LONG as we can see ETH formed a double bottom on the 4h chart, which is a strong bullish structure
Note
ETH brokeout nicely our 4h resistance, we wait for the retest and will open a LONG around 3370 if the old resistance well play as new support. 4000 is the main short term target, we can break it easily if BTC doesn't shake out . ETH can hit 8000 this year .Hold tight and when we hit 3750 put stop loss at entry for 100% gain trade .
Note
ETH has breakdown from his ascending channel and now the next support is 3350. ETH is still really corelated (sadly) to BTC. so be careful and put tight stoploss
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.