$ETH building a pennant, already in a position from the $494-498 region however will add more at the test of the support around $504-505, expecting a breakout to the upside as long as Bitcoin plays ball. Targeting the $580 region which will now be resistance. ETH has tested the $489 S/R flip from back on the 01st September perfectly & we've seen a good reaction...
. There is a possibility of temporary retracement to suggested support line (440.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. ETHUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
ETHEREUM performance for the whole of NOVEMBER!
First trade; BUY banking a total +3.7% gain
Second trade; SELL hitting our stoploss -1%
Third trade; BUY banking a total +1.1% gain
Forth trade; SELL hitting our stoploss -1%
Fifth trade; BUY banking a total +8.55% gain
Sixth trade; CURRENTLY RUNNING +5.5% GAIN!
total net profit banked risking 1% per trade=...
One year from now and all coins will get back to 2017 prices, BTC will worth $800 probably.
I will try to keep this updated and count the waves but you get the point here...stay safe till end of next year .
$ETH lost momentum & broke down from the rising wedge as shown on the chart, my ETH plan is shown with the green arrows & I fully expect to test the $800 region sooner rather than later, will be watching for RSI bullish divergences on 1HR/4H timeframes to re-enter ETH.
#Ethereum is loosing his strength. 4H TF indicates bearish divergence. MACD on the same TF also looks topped. Moreover, #ETH is at the mid channel right now, which is a great profit taking area and may act as a resistance. EW technical analysis, which is emitted in this chart, suggest that all five waves are in (which are part of the larger degree wave 3)....