ETHBTC bottomed out at MAJOR support level RIGHT NOW
Hey all! Hope you are doing great!
Long term;
This is one of the most juicy charts I've seen all year, not a joke. We have found support at a MAJOR monthly level from the small pre-pop back in 2016. Levels are drawn from the main bodies and not the wicks as many people do wrong; it's the bodies you should look for. The timeframe for the body counts a lot, and as this is a MONTHLY candle body close/open for FOUR months, it's incredibly strong! We also have support here from a POC from the last wick down. Great looking long term chart with juicy targets reaching towards 40% and up to 200% at the most.
Short term;
As you can see on the short-mid term chart below, we did find PERFECT support at the candle body from 2016 and we are bouncing. I am still open for a retest of this horizontal level over time, but on a short term perspective we are currently in a bull-flag and CM stoch is getting ready to fire BUY once blue has successfully crossed over orange and confirmed. Bullish on the short term
I have already entered in a long position with leverage on Bitmex, but this is also very valid for buying spot on Binance etc. Around this area is a great entry for spot buying or low leverage buying. The risk/reward is fantastic as you would simply place your SL about 1% below the horizontal level to make sure you are not wicked out by liquidity hunters / market makers.
If you support this chart, make sure to give a like and follow for more updates and analysis :) Support makes me want to post more!
Long term;
This is one of the most juicy charts I've seen all year, not a joke. We have found support at a MAJOR monthly level from the small pre-pop back in 2016. Levels are drawn from the main bodies and not the wicks as many people do wrong; it's the bodies you should look for. The timeframe for the body counts a lot, and as this is a MONTHLY candle body close/open for FOUR months, it's incredibly strong! We also have support here from a POC from the last wick down. Great looking long term chart with juicy targets reaching towards 40% and up to 200% at the most.
Short term;
As you can see on the short-mid term chart below, we did find PERFECT support at the candle body from 2016 and we are bouncing. I am still open for a retest of this horizontal level over time, but on a short term perspective we are currently in a bull-flag and CM stoch is getting ready to fire BUY once blue has successfully crossed over orange and confirmed. Bullish on the short term
I have already entered in a long position with leverage on Bitmex, but this is also very valid for buying spot on Binance etc. Around this area is a great entry for spot buying or low leverage buying. The risk/reward is fantastic as you would simply place your SL about 1% below the horizontal level to make sure you are not wicked out by liquidity hunters / market makers.
If you support this chart, make sure to give a like and follow for more updates and analysis :) Support makes me want to post more!
Comment:
We are still bouncing perfectly within the bull-flag after the attempted breakout earlier today. If BTC dumps this will break UP.
Comment:
Good bounce