As highlighted we have had a macro negative trendline break which started an uptrend and now a double bottom setup finalising
The height of both of these gives us a final target at $270
However it will pullback on the way, the dashed lines being my other take profits and the small dotted lines being areas of resistance - evident as we bounced off $161
Depending on market conditions the amount we take out at each level may change giving the opportunity to enter on a pullback from these levels!
Only thing to bear in mind is the RSI is hugely overbought, which may see momentum slow next week or the week after.
Happy crypto market guys, lets make the most of these waves
ETH has done unreal today, trying for $1000 and BTC strength continues with it sitting around $32-34k
Volatility is majorly high though so take care, remember suitable stop losses!
Mine for this trade is a little below the neckline, haven't raised it yet as will manually remove some position with aim to re-enter lower if we get bearish divergence on the daily time frame!
The height of both of these gives us a final target at $270
However it will pullback on the way, the dashed lines being my other take profits and the small dotted lines being areas of resistance - evident as we bounced off $161
Depending on market conditions the amount we take out at each level may change giving the opportunity to enter on a pullback from these levels!
Only thing to bear in mind is the RSI is hugely overbought, which may see momentum slow next week or the week after.
Happy crypto market guys, lets make the most of these waves
ETH has done unreal today, trying for $1000 and BTC strength continues with it sitting around $32-34k
Volatility is majorly high though so take care, remember suitable stop losses!
Mine for this trade is a little below the neckline, haven't raised it yet as will manually remove some position with aim to re-enter lower if we get bearish divergence on the daily time frame!