Hello guyzz and gerlzz
Today we gonna look at ETHereum which is another cryptocurrency, standing next to Bitcoen.
The major problem with ETH as well as with any other alternative to Bitcoen crypto is that they lack autonomy. All crypto is heavily dependent on BTC and pretty much repeat BTC price patterns with one minor difference being percentage change in alt is usually bigger given a percentage change in BTC. No magic here just a result of insufficient liquidity.
So let's start:
It is likely that ETH has just established a lower high (LH) defining a HTF downtrend channel.
If so, I would expect ETH to be sliding down towards the next major liquidity being 153-160 zone marked green.
Even if ETH manages somehow to break above 170-180 it still got a lot of resistance above. It just seems a little to hard to deal with.
Not really much to say here cus I am not a fan of alts and trade them spot only, and on rare occasions.
I have got to mention that few hours ago I sold my ETH spot position at 171 which I have been holding from 130$ from 03-Jan 2020. Honestly I was expecting ETH to perform better targeting 220$ but it just does not seem to work out.
Please please please!!! DO NOT forget to comment and like my analysis, agree or disagree, regard to disregard! Action is better than no action! Appreciate it!
Love you all! Trade safely!
Today we gonna look at ETHereum which is another cryptocurrency, standing next to Bitcoen.
The major problem with ETH as well as with any other alternative to Bitcoen crypto is that they lack autonomy. All crypto is heavily dependent on BTC and pretty much repeat BTC price patterns with one minor difference being percentage change in alt is usually bigger given a percentage change in BTC. No magic here just a result of insufficient liquidity.
So let's start:
It is likely that ETH has just established a lower high (LH) defining a HTF downtrend channel.
If so, I would expect ETH to be sliding down towards the next major liquidity being 153-160 zone marked green.
Even if ETH manages somehow to break above 170-180 it still got a lot of resistance above. It just seems a little to hard to deal with.
Not really much to say here cus I am not a fan of alts and trade them spot only, and on rare occasions.
I have got to mention that few hours ago I sold my ETH spot position at 171 which I have been holding from 130$ from 03-Jan 2020. Honestly I was expecting ETH to perform better targeting 220$ but it just does not seem to work out.
Please please please!!! DO NOT forget to comment and like my analysis, agree or disagree, regard to disregard! Action is better than no action! Appreciate it!
Love you all! Trade safely!
Comment:
Not quite the way I was expecting it. Still respecting horizontal resistance. Let's see how weekly closes
Comment:
thinking we might seriously have stepped into bullish market
but do mind ur risk! Bullish market doesn't mean longing blindly into resistance
levels and trend lines beautiful play
Lines are there to be broken, so is oke
but do mind ur risk! Bullish market doesn't mean longing blindly into resistance
levels and trend lines beautiful play
Lines are there to be broken, so is oke
