Ethereum just hit its reversal zone and is ready for a nice move till the end of the week. Possibly we some recovery across the crypto market till the end of January. I do think we should be able to end the week green unless some bearish news comes out, based on the behavior of the current Asian session and bearish action of today, just like I said in my previous analysis last Thursday discussing this week. (link below)
Obviously the bounce is only confirmed when it bounces but I do think these levels make for a nice trade set up. The only point of caution would be the possible M formation here - which I believe - will shape up like a double bottom (w formation). Happy trading week and be cautious as we are still chopping!
IMPORTANT: this is not financial advice, trade based on your own risk and research.
Obviously the bounce is only confirmed when it bounces but I do think these levels make for a nice trade set up. The only point of caution would be the possible M formation here - which I believe - will shape up like a double bottom (w formation). Happy trading week and be cautious as we are still chopping!
IMPORTANT: this is not financial advice, trade based on your own risk and research.
Trade closed: target reached:
Time to get out!
Comment:
M formation confirmed
Comment:
I said to get out, its OK to be wrong as long as you spot it on time.. even made a buck on that trade as price did move up a bit from the reversal zone... posted a double warning 2 days ago!
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