I am loving this ETHUSD set up!
Normally I only look at ETH/BTC pairing, but this chart of ETH against the USD was too compelling to ignore.
1. A double-bottom, that "W" shape, is bullish.
2. If we can break that red descending line of resistance, will be bullish.
3. If we can break that horizontal line of resistance, will be bullish.
4. Also, that yellow 20 day moving average on the EMA ribbon will likely be broken at the *exact same time, maybe as early as Feb 26, 2021, morning, depending on where you live.
This will be bullish.
This setup has me pumped!
Trade entry point:
Two consecutive green candles on the 4 hour chart will convince me enough that the double-bottom is in. And once we break those red lines of resistance and back-check/retest that horizontal red line ( at 1584USD/ETH), I am going long, long, long up to 2,046, taking responsible profits along the way!
I'm stoked!
BTCUSD is performing similarly to ETHUSD, but I am waaaaay more bullish on ETH for the next few months, at least.
Share your thoughts & Happing investing!
-Cryptmando
Feb 25, 2021
* only my minion opinion.
Normally I only look at ETH/BTC pairing, but this chart of ETH against the USD was too compelling to ignore.
1. A double-bottom, that "W" shape, is bullish.
2. If we can break that red descending line of resistance, will be bullish.
3. If we can break that horizontal line of resistance, will be bullish.
4. Also, that yellow 20 day moving average on the EMA ribbon will likely be broken at the *exact same time, maybe as early as Feb 26, 2021, morning, depending on where you live.
This will be bullish.
This setup has me pumped!
Trade entry point:
Two consecutive green candles on the 4 hour chart will convince me enough that the double-bottom is in. And once we break those red lines of resistance and back-check/retest that horizontal red line ( at 1584USD/ETH), I am going long, long, long up to 2,046, taking responsible profits along the way!
I'm stoked!
BTCUSD is performing similarly to ETHUSD, but I am waaaaay more bullish on ETH for the next few months, at least.
Share your thoughts & Happing investing!
-Cryptmando
Feb 25, 2021
* only my minion opinion.
Comment:
Comment: Update No. 2, March 01, 2021, morning MST:
Additional +25% added to position not that we have a green close above that descending red line on the 4 hour chart, and
Additional +25% now that we crossed that yellow 20 day EMA at the bottom of the ribbon, on the 4 hour chart.
Position is now 75% entered.
FINAL 25% when we break and re-test the horizontal red line around the 1584USD/ETH.
Overall, the trade is getting long. Timing was early, but we played it safe.
Week-end, month-end is over and I am extremely bullish for ETH and BTC for the month of March 2021.
Happy trading everyone!
Share your thoughts! And smash that Like button!
All the best,
-Cryptmando
March 01, 2021, morning
*minion opinion
Additional +25% added to position not that we have a green close above that descending red line on the 4 hour chart, and
Additional +25% now that we crossed that yellow 20 day EMA at the bottom of the ribbon, on the 4 hour chart.
Position is now 75% entered.
FINAL 25% when we break and re-test the horizontal red line around the 1584USD/ETH.
Overall, the trade is getting long. Timing was early, but we played it safe.
Week-end, month-end is over and I am extremely bullish for ETH and BTC for the month of March 2021.
Happy trading everyone!
Share your thoughts! And smash that Like button!
All the best,
-Cryptmando
March 01, 2021, morning
*minion opinion
Comment:
Update No. 3, March 01, 2021, morning MST:
Position is still 75% entered.
Final 25% when we break and re-test the horizontal red line around the 1584USD/ETH. Expect this is the next 24 hours. We are dancing on this red horizontal line as I type this update.
-Cryptmando
March 01, 2021, evening MST
Position is still 75% entered.
Final 25% when we break and re-test the horizontal red line around the 1584USD/ETH. Expect this is the next 24 hours. We are dancing on this red horizontal line as I type this update.
-Cryptmando
March 01, 2021, evening MST
Comment:
Update No. 4, March 03, 2021, afternoon MST:
Position is still 75% entered.
Final 25% when we break and re-test the horizontal red line. We are still dancing on it, but I need more confirmation. A 1608USD/ETH on a 4 hr close.
If you are trading ETH/BTC pair, I'm buying between 0.030360 and 0.030861 BTC.
-Cryptmando
March 03, afternoon MST
Position is still 75% entered.
Final 25% when we break and re-test the horizontal red line. We are still dancing on it, but I need more confirmation. A 1608USD/ETH on a 4 hr close.
If you are trading ETH/BTC pair, I'm buying between 0.030360 and 0.030861 BTC.
-Cryptmando
March 03, afternoon MST
Entry point of 25% completed with 2 consecutive green candles on the 4 hour chart for the ETHUSD chart has convinced me enough that the double bottom, "W", shape is in.
Next 25% will be when we have a green close above that descending red line and horizontal red line, or
Next 25% when we cross that yellow 20 day EMA at the bottom of the ribbon.
Final 25% when we re-test that horizontal red line around the 1584USD/ETH. This may actually happen on a lower time framed chart like the 1 hour for ETHUSD.
Overall, I am happy with how this is playing out, and am still bullish if we complete each criteria.
Happy Trading! Share your thoughts! Smash that Like button!
All the best,
-Cryptmando
Feb 26, 2021, morning
*still only my minion opinion