Looks like ETHUSD is retesting the R/S flipped resistance zone (top purple box) right now.
If it does not break above, then its a short down to the 2 MA levels shown, and the next major horizontal support.
I'm not listing this as a long or short because yes you can short this, but you can also buy the dip.
This looks to me like a very normal correction and a healthy one. No impulsive dumping. ETH is strong!
Probably see an ETH ATH in 2021.
For anyone else that bought up as much ETH as they could below 200, HODL!
I just like to short major impulse moves, I dont think I will short this.
(I tend to HODL, instead of take profit and sell, and then I short on leverage using my current ETH to short so that I double profit on dumps - EG: when it hit 600 I shorted down to 500 but I didnt sell any ETH, I just converted that profit into more ETH)
BUY THE DIP!
If it does not break above, then its a short down to the 2 MA levels shown, and the next major horizontal support.
I'm not listing this as a long or short because yes you can short this, but you can also buy the dip.
This looks to me like a very normal correction and a healthy one. No impulsive dumping. ETH is strong!
Probably see an ETH ATH in 2021.
For anyone else that bought up as much ETH as they could below 200, HODL!
I just like to short major impulse moves, I dont think I will short this.
(I tend to HODL, instead of take profit and sell, and then I short on leverage using my current ETH to short so that I double profit on dumps - EG: when it hit 600 I shorted down to 500 but I didnt sell any ETH, I just converted that profit into more ETH)
BUY THE DIP!
Note
looks like it might be holding that support!we´ll see by tuesday. mondays tend to be green days, if it doesnt dump through support by tuesday id say this isnt happening.
Note
just realized how perfect I nailed that one..... I tend to forget about my charts after I setup the trades.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.