In my last post "Sell-off! What will it take to find the new bottom?" we explored the recent downtrend and "What will it take to find the new bottom so that the market could move on?". Sometimes it does happen that some posts are crazy accurate - it is a bit scary - maybe Data Money is a prophet? 😂 "Blitz dips" are over and the price has settled for a few days to up demand. We have hit a bottom of $1300 and so far this bottom was not contested (yet?). So, what happens next? Is the bear run (maybe just a walk) over? Is the price going to rise or fall?
Where some people look for prophecies - Data Money is looking at data for insights 😉 Current ETH market data indicates that there will be strong resistance at ETH $1550, many of you with early access already know that demand picked up and we have been in a long position since $1440 this morning. If the price breaks through $1550 point, it is very likely to keep rising. This could be early signs of turning back to the bull market. If the price bounces off that resistance line, it should be coming back. That's a great opportunity to short and double your daily profit! If the price retrace to $1440 you potentially could close your shorts. Profitable longs and shorts in a single day - double the profit! 🤑 If the price keeps dragging down - we could be in for another bear treat.
Regardless of the micro price actions - the price has settled over the last few days and opened doors for demand to pick up. Current macro data is what matter. It will ultimately define the course of this week. We should have our answer before EOD (6pm GTM).
Price is likely to rise up until ETH $1550. Many of you with early access already taken advantage of this!
Position is Long
Forecasted highs at $1550
Mid-way point at $1500 (anything above this point is considered overpriced)
Forecasted lows at $1350, $1315, $1300 and $1270
If the price drops under $1300 with ease, we could be for further discounting.
Have fun trading! 💰💰💰
If you would like to have early access to Data Money ETH , write "Alt-coin season is coming - price will rise!" or "2018 repeating itself - price will fall!" in the comments down below.