The marker is ripe for a correction. Even though Bitcoin is rising and breaking 3500, I don't think the rising tide can take ETH higher. There is incredibly low volume in the market, trades are driven by bots, and there is in my view a disintegration of support, i.e. there are no more bulls left in town to push this higher.
I expect a break of the ichimoku and several of the trend lines. I expect a bounce from the 275 asimptote towards the 300 area. That will be my trade. If my plan breaks, I will reconsider the entry. Yesterday was horrible for long entries, the stair formation gave very little confidence, which further leads me to think there will be bullish disintegration.
I expect a break of the ichimoku and several of the trend lines. I expect a bounce from the 275 asimptote towards the 300 area. That will be my trade. If my plan breaks, I will reconsider the entry. Yesterday was horrible for long entries, the stair formation gave very little confidence, which further leads me to think there will be bullish disintegration.
Order cancelled:
Clearly, I was wrong. The price did not push through the window of opportunity and got a good boost of volume to keep up with bitcoin which pushed it back into the bullish channel.
Waiting for a good position to enter a long.
Waiting for a good position to enter a long.
Potential entries: 304.5; 307; 309