ETH PERSONAL ANALYSIS IN THE SHORT TERM (I SEE 1780$ WHOA!)
The total evaluation for the ethereum asset is bearish. Please be mindful of your risks and tolerance when it comes to handling large amounts of money so that you remain calm always. Plan it out every trade and it doesn't matter if you're wrong or right, saves you a lot of paranoia. I see a very big potential to break 1720$ today and a very nice tendency to pump as far as 1780$ due to the fact that the price is supported from a bullish perspective of the NASDAQ and SP500 about to break their volume point of control and into the daily 20 day and 50 day EMA resistance which will probably be rejected the moment we go there.
At the same time, that point of rejection will send ETH down from 1,720$ or 1,780$ to 1,580$ to 1,620$ respectively. If you want to find out more about the correlation of these prices, go to my profile, I have posted a new update regarding that breakout of the NASDAQ and SP500. It's literally quite new! Be warned that even if we pumped there, this is a rising wedge and that of itself is a huge sell signal in an eventual fashion.
Remember, initial target is 1720$
If we do reach beyond that, its most commonly a volume splurge and would warrant a definite short the day after.
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At the same time, that point of rejection will send ETH down from 1,720$ or 1,780$ to 1,580$ to 1,620$ respectively. If you want to find out more about the correlation of these prices, go to my profile, I have posted a new update regarding that breakout of the NASDAQ and SP500. It's literally quite new! Be warned that even if we pumped there, this is a rising wedge and that of itself is a huge sell signal in an eventual fashion.
Remember, initial target is 1720$
If we do reach beyond that, its most commonly a volume splurge and would warrant a definite short the day after.
------
Like the chart? Comment on it, boost it, save it, bookmark it, share it! Its yours for free!
Order cancelled:
Sitting on the sidelines right now with a low leverage short. If market pumps, I'd take an intentional SL with low risk and switch bias. Until then, I'll keep my short up to 1500$ drop.
Comment:
Pattern invalidated.
Trade active:
Pattern validated. Ethereum longs are open from 1,635 at x10 leverage with TP target to 1,720$
Trade active:
TP taken partially at 1700$, will hold some to 1680$ and 1740$
Trade closed manually:
Profits taken around 1,770$. No more trades open since ETH is relatively bearish compared to SOLANA and BTC.