ForecastCity

💡Don't miss the great buy opportunity in Ethereum/Bitcoin

Long
BITFINEX:ETHBTC   Ethereum / Bitcoin
Midterm forecast:
While the price is above the support 0.02275, resumption of uptrend is expected.
We make sure when the resistance at 0.02965 breaks.
If the support at 0.02275 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
The RSI bounced from the uptrend #1 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 0.03365 on 11/24/2020, so more losses to support(s) 0.02450 and minimum to Major Support (0.02275) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 33.

Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (0.0245 to 0.02275). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

. Beginning of entry zone (0.0245)
. Ending of entry zone (0.02275)

Trade Setup:
We opened 11 BUY trade(s) @ 0.02534 based on 'Two-day reversal candle' entry method at 2020.12.27.

Total Profit: 0 pip (0%)
Closed trade(s): 0 pip Profit (0%)
Open trade(s): 0 pip Profit (0%)

Take Profits:
TP1 0.02635
TP2 0.02745
TP3 0.02965
TP4 0.03185
TP5 0.0333
TP6 0.04045
TP7 0.04850
TP8 0.05695
TP9 0.06955
TP10 0.08550
TP11 = Free

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Comments

I appreciate it. Excellent charting!
+1 Reply
Upvoted! 👏
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your nice comment.
Reply
It's a helpful technical analysis. Thank you so much ❄️
+1 Reply
ForecastCity Kristalyn
@Kristalyn, We're glad you like it.
Reply
Clean and clear analysis. I appreciate your work.
+1 Reply
ForecastCity yusufipek1989
@yusufipek1989, Thank you for your feedback. We appreciate it
Reply
Thanks for sharing this chart.
+1 Reply
ForecastCity sofi_Morphy
@sofi_Morphy, We appreciate your comment.
Reply
Nice mentioning the two scenarios.
Reply
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