Ethereum fallen out of the rising wedge. See the targets.
Dear Friends,
Ethereum has formed a bearish rising wedge and it has broken out to the downside. The target of the wedge is 1852 USD.
If Ethereum breaks out above 2205 this will be the stoploss for the short and it will go to the next level of 2400 usd.
We also see the declining trendline which acts as a strong resistance and for a bullish scenario Ethereum need to break this trendline.
On the other side, if the support with the triple bottom doesn't hold Ethereum will dive but that is just a possibility which sooner or later can happen. Just be always prepared for a B plan in case things change.
In this market I advice to use tight stops.
Please share your thoughts and idea's below dear friends. What do you think and why do you think it with or without a chart.
I wish you all good luck with trading!
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Ethereum has formed a bearish rising wedge and it has broken out to the downside. The target of the wedge is 1852 USD.
If Ethereum breaks out above 2205 this will be the stoploss for the short and it will go to the next level of 2400 usd.
We also see the declining trendline which acts as a strong resistance and for a bullish scenario Ethereum need to break this trendline.
On the other side, if the support with the triple bottom doesn't hold Ethereum will dive but that is just a possibility which sooner or later can happen. Just be always prepared for a B plan in case things change.
In this market I advice to use tight stops.
Please share your thoughts and idea's below dear friends. What do you think and why do you think it with or without a chart.
I wish you all good luck with trading!
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Note
Friends just also keep a close eye on the blue trendline. A break of this trendline need more than average volume to buy it. Ideally is to wait for a re-test. If it happens, it would be a very nice bullish signal but we need to be aware of bull traps all the time. The re-test with a tight stop can help in this.Good luck dear friends and I wish you all great profits!
Trade closed: stop reached
Beste vrienden,We got to see here once again how strong market manipulation is in the cryptos. Fortunately, we had a tight stop in place and this was a trade with potential. Why? Because all the rising wedges of late in Bitcoin did what they were supposed to do except now. But against manipulation which often happens when there are low volumes, there is nothing to do against it except your stop loss.
friends, I am not taking a position at the moment until it is clear how the situation evolves. I have not a single bias because we can make profits in bull and bear markets.
What we have seen in the stockmarkets with new all time highs is only caused by unlimited printing Dolalrs and Euros's by the trillions where a big part is injected indirecly in the markets. As long as this goes on the chance for a real stockmarket crash is zero in my opinion. The crypto markets are different then the stockmarkets but with all new constructions in funds it get more and more correlated. So that is something to keep in mind for the mid to longer term.
Good luck dear friends
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.
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.