Time to risk on for ETH. December has been a decent month for bullruns as proven in the past. With more fear for inflation and FED looking to pump more non-existing money into the economy, crypto could see a rise once again as fiat draws down.
Just some Basic TA, not beyond TA.
We see an consolidation/accumulation on the daily RSI. Potentially forming a double...
Completely out of shorts and building new long. Volume profile showing decent absorption with liquidity taps into support. Funding boards looking healthy. People waiting for 40k retest may be front run. Hoping for delayed X-mas run
Amazing R/R
*Bull divergence
*RSI forming rounding bottom
*Red shooting star before current candle is being eaten. We already had a...
Hedge from 67.8 against spot buy as RSI and OBV start showing weakness. Aiming 0.5 / 0.66 retrace but no profit taking, if it goes lower we will eat funding.
Ideally we see a small dump during daily open and then bleeding back to break out area.
Medium term targets IF btc.d declines
Red area for taking profit, green area for reload if showing volume and strength. Volume is very important here so keep watching obv. Current obv is extremely weak, breakout of triangle possibly a fakeout. If volume increases rapidly then don't take profit
This is NOT a trade. This is intended for spot entries if you are looking for longer term holding investment
-We have now long consolidated above previous pivot points and above the values where most volume was prior to the moonshot to 4k.
-We are now nearly out of this new range (Green circled volume profile).
-By breaking 2.8k with confidence there stands...
BTC has been in a steady decline past few days. We see buying pressure very similar to march 2020. Is this our local bottom or are we at complacency? Either way, you will be having quite a risky entry as the direct R/R ratios in short term are not that great. Personally always looking for 1:3 for TP1, and at least 1 or two more potentials for TP2. Right now TP1...
Long break out with beautiful retest.
Multiple smaller flags broken, last major triangle resistance also broken and tested. Ready for the run?
Take profit, but do it silently.
