Long ETH at a very respected Bottom Channel Support.

We are currently sitting at Support for the Bottom Channel. Similar to BTC and other markets where we are at a very critical support. As I mentioned in my BTC idea, I am not taking BTC trade but chancing a very low-risk trade for ETH since the TA is more attractive. It is always a good idea to long at support rather than longing after it had pumped a little. I will exit half my position at the designated TP as per the long tool I drew and let the rest fly.

Note

This didn't play out well. ETH didn't even hit the middle of the channel which shows a very weak market. This is what happens when you try to catch a falling knife despite having so many confluences. As mentioned, managing risks when you know the odds are low.

Trade closed: stop reached

apexcryptotraders

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apexcryptotraders