ETHUSDT

ETH i currently testing our daily rsistance.

2 scenarios like BTC:

1/ Either we flip our local resistance as new support and we go directly to 4K

OR

2/ We have a rejection from here and we could open a SHORT trade at the second restest of this resistance.

Note: If we flip the resistancehere, we are confident enough to open a LONG as we can see ETH formed a double bottom on the 4h chart, which is a strong bullish structure

Comment:

ETH brokeout nicely our 4h resistance, we wait for the retest and will open a LONG around 3370 if the old resistance well play as new support. 4000 is the main short term target, we can break it easily if BTC doesn't shake out . ETH can hit 8000 this year .

Hold tight and when we hit 3750 put stop loss at entry for 100% gain trade .

Comment:

ETH has breakdown from his ascending channel and now the next support is 3350. ETH is still really corelated (sadly) to BTC. so be careful and put tight stoploss