Ethereum ENTRY points at MAsThe MAs (moving averages) give us a nice signal for entry.
When price moves up, it almost always stops and takes a break to digest. That is called consolidation.
Buyers are taking profits and sellers are coming in, but not enough to make the price shoot up.
The price hovers around the same price until the moving averages catch up.
Moving averages, by nature, are lagging. They are an average of the closing prices. I use 9 and 20 exponential moving averages for my trading.
But when the moving averages catch up to the actual price, then there is a test. If the price stays above the moving average, then we usually see a bullish breakout.
I usually add a little when price is TESTING the moving average, and then I add some more when price breaks out of the range.
The moving averages even seem to PUSH the price up. That is only an optical illusion, but you can see it as price finally reaching equilibrium, at which point a decision must be made. Either more sellers push the price down (breakdown) or more buyers push the price up (breakout).
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
