In my opinion, price on the lower timeframes has shown signs of support. I believe that a long trade is warranted considering the prospects of a good risk/reward trade, especially after the recent drop. Any Ethereum related ETF news that is deemed bullish may fuel the price to push up. I, however, will keep my expectations in check. For a bounce play, I believe $76,000 would be in sight for BTC, and $4350 or $5000 for ETH. However, even if price pushes up, I think the market is likely to continue to chop and bleed traders. Despite making new highs, I would not rule out further downside. Further downside from current price is also possible, but I am willing to take a shot at a long trade here. I was short and closed my short positions just a few minutes ago.
This trade idea is not financial advice. I am not any kind of financial advisor.
Thanks for following and for hitting the like button!
This trade idea is not financial advice. I am not any kind of financial advisor.
Thanks for following and for hitting the like button!
Trade active
I am currently long. I believe BTC may likely continue higher to $80,000. At the moment, Ethereum may look dead, but I think it has potential for $5000. How fast or slow? Time will tell. Order cancelled
Flipped short
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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.