$ETHUSD is going towards $435 in a sustained bullish move
As expected, $ETHUSD is moving up. The party has just get started. Volume is impressive and appears to have more upside potential. It is printing bullish candles. MACD is printing bullish & building its buyer momentum. OBV Volume with EMAs looks like waiting for a major breakthrough to the upside. It looked similar last time when we had the parabolic move in 2017. All the moving averages indicating strong buy. Stock RSI is not overbought; hence, have the uptrend can be sustained. Awesome Oscillator indicating buy. The price is above 50 EMA that indicates it is bullish and has room to go. The Parabolic SAR is bullish. I would put stop loss at either 167 or 184. Pick your poison.
Targets
$258 is the first resistance. However, I feel this will be easily taken care off. 299 is 2nd resistance point. It didn't prove to be much of support at all on the way down. The price might stall for a while but may ultimately reach the next target of 359 USD. My ultimate target is 435 USD. Take profit willy nilly at 435.
Target 1 : 258 USD
Target 2 : 299 USD
Target 3 : 359 USD
Target 4 : 435 USD
Wasn't the peak of ETHUSD was at USD 829. And, the low was at USD $82.
Stop Loss
A confirmed breakdown below the 50 EMA would temporarily negate that upside potential. However, that is very unlikely looking at chart right now. The 50 EMA right now is at about 184.
disclaimers
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Trading cryptocurrency carries a high level of risk(volatile), and may not be suitable for you. The high volatility / leverage can work against you as well as for you. It is your responsibility to confirm if you want to take this trade or not. I have lost most of my investment in this. And, you may as well. Trade only with risk capital; that is, trade with money that, if lost, will not make you angry, sad or go depressed. I may or may not follow the ideas I share here or in twitter . You should do your own due diligence. I take no responsibility for what you do.I am not a financial adviser and especially not your advisor. I am just a guy that lost a lot of money trying to get good at trading. Please, take this idea as a grain of salt as reality might differ from what I hope.
Targets
$258 is the first resistance. However, I feel this will be easily taken care off. 299 is 2nd resistance point. It didn't prove to be much of support at all on the way down. The price might stall for a while but may ultimately reach the next target of 359 USD. My ultimate target is 435 USD. Take profit willy nilly at 435.
Target 1 : 258 USD
Target 2 : 299 USD
Target 3 : 359 USD
Target 4 : 435 USD
Wasn't the peak of ETHUSD was at USD 829. And, the low was at USD $82.
Stop Loss
A confirmed breakdown below the 50 EMA would temporarily negate that upside potential. However, that is very unlikely looking at chart right now. The 50 EMA right now is at about 184.
disclaimers
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Trading cryptocurrency carries a high level of risk(volatile), and may not be suitable for you. The high volatility / leverage can work against you as well as for you. It is your responsibility to confirm if you want to take this trade or not. I have lost most of my investment in this. And, you may as well. Trade only with risk capital; that is, trade with money that, if lost, will not make you angry, sad or go depressed. I may or may not follow the ideas I share here or in twitter . You should do your own due diligence. I take no responsibility for what you do.I am not a financial adviser and especially not your advisor. I am just a guy that lost a lot of money trying to get good at trading. Please, take this idea as a grain of salt as reality might differ from what I hope.
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- Comment below, please.
- Let me know your thoughts. Any discussion, comments, encouragements, etc will help me in putting more charts. Let me know that you hate or like this chart.
Trade active:
Ignore target 1. Go directly to Target 2. The momentum is just too good here.
Comment:
ignore target 2. go to target 3. It's a beautiful day. And it is time to go up. Oh yeah. ETH you are so sweet.
Comment:
Target 1 reached!
There may be a bit of sideways movement or just some slow profit taking. However, I strongly feel Target 2 and then target 3 is definitely possible.
There may be a bit of sideways movement or just some slow profit taking. However, I strongly feel Target 2 and then target 3 is definitely possible.
Comment:
I would increase the Stop Loss at comfortable value so that there is no loss and some profit if it dives down. BTCUSD always shows the way. So, it is always good to be careful than sorry.
Trade closed: target reached:
For now I am going to close all trades and move to cash.I will try to dip buy once more later.
Trade active:
Opened a new trade. I feel good risk/reward ratio here.
Trade closed: stop reached