ETH - Relief Pamp, then Damp?
I hate trading ETH sometimes bc this one could go either way...
ETH looks like it's going to have a little relief rally before it retests 1280-1320 (which is also support and the golden pocket)
Relief Rally
Entry = 1275
Stop Loss = 1210
Target 1 = 1420 - 1450
Target 2 = 1580 (Point of Control)
after that... who the feck knows... lol
there are 2 possible scenarios though...
1) Pa-Pa-Pamp it up
If price holds the golden pocket area, I'll be looking for a confirmed break of the descending triangle
if this happens I'll be looking for longs probably around the 1420 area, but we'll see
2) Damp it, Damp it good
if price doesn't hold the golden pocket area, and we get a confirmed break of the triangle, then price is going to retest the 890-1000 area
if this happens, short that shit
Entry = 1215
Stop Loss = 1280
Target = 1000 - 880
with everything that's going on with the merge "success" and how centralized ETH is now, it's hard for me to be bullish on this one. but then again, it could also hit the 890-1000 area and then bounce hard from here too. we'll see though. there's just not enough data yet to see if the bottom is in in
ETH looks like it's going to have a little relief rally before it retests 1280-1320 (which is also support and the golden pocket)
Relief Rally
Entry = 1275
Stop Loss = 1210
Target 1 = 1420 - 1450
Target 2 = 1580 (Point of Control)
after that... who the feck knows... lol
there are 2 possible scenarios though...
1) Pa-Pa-Pamp it up
If price holds the golden pocket area, I'll be looking for a confirmed break of the descending triangle
if this happens I'll be looking for longs probably around the 1420 area, but we'll see
2) Damp it, Damp it good
if price doesn't hold the golden pocket area, and we get a confirmed break of the triangle, then price is going to retest the 890-1000 area
if this happens, short that shit
Entry = 1215
Stop Loss = 1280
Target = 1000 - 880
with everything that's going on with the merge "success" and how centralized ETH is now, it's hard for me to be bullish on this one. but then again, it could also hit the 890-1000 area and then bounce hard from here too. we'll see though. there's just not enough data yet to see if the bottom is in in
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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.