ETH testing its strength
Updated
Ethereum continued its incredible pump and reached highs of 0.00723, from 0.00392 starting point.
On our last trade, ETH was shorted. It went down from 0.00555 to 0.00500, and met strong support there. Ichimoku cloud support (red line) was tested, but not broken. Stop loss was triggered.
On our next trade, we will be looking whether ETH can break cloud up or down. I will only be trading short, if the cloud breaks down. I believe that the cloud will provide a resistance (green line) and is a good entry point for short.
If short is on, the target will be 0.00550, as it has been a key point in deciding up/down move on our previous trade and it served as both good support and resistance zone.
On our last trade, ETH was shorted. It went down from 0.00555 to 0.00500, and met strong support there. Ichimoku cloud support (red line) was tested, but not broken. Stop loss was triggered.
On our next trade, we will be looking whether ETH can break cloud up or down. I will only be trading short, if the cloud breaks down. I believe that the cloud will provide a resistance (green line) and is a good entry point for short.
If short is on, the target will be 0.00550, as it has been a key point in deciding up/down move on our previous trade and it served as both good support and resistance zone.
Trade active
Trade is ON. Our last 30m candle closed below the cloud. Previous highs of 0.0058 have been hit perfectly. Expect more down and possible support at 0.0055.That is, if Kraken gets rid of the DDoS they are now receiving.
Trade closed: target reached
Target was hit, 20% profit taken.
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