My followers will know if been commenting on all this Ethereum action as we have been moving up, predicting a move to $3000 move since we broke $1480.
I have spot positions on Ethereum and have been taking other swing long positions within all these moves, posting for you here until I've taken all profits on each swing and then re-posting or updating the thread. I traded the first move up, took profits, then I took some long entries on the dip to $1490 and have now taken 50% of my profits at 1805 . The question though is will we actually move to $2000 from here?
I've talked a lot about control lines and how they can be used to judge bull or bear power within a move. We can see that price is now above the dotted control line in the middle of the blue channel so we should only be long buying dips or holding as bulls are in control. Interestingly though we now have a support ladder built with the top of support shown by the green line at around $1770 and we are now trading around the control line in the more steeper red channel. If prices trade above this line and as support is just below I see no reason why we cant extend into that red channel and head for the upper channel resistance line. We may see some sideways consolidation first of course.
We can continue to buy dips to support or hold as long as price remains above support and closes candles above the blue channel control line (or red one if it breaks into that channel). I'll keep updating as we go along. Hope your all banking good profits in Crypto as we move up.
I have spot positions on Ethereum and have been taking other swing long positions within all these moves, posting for you here until I've taken all profits on each swing and then re-posting or updating the thread. I traded the first move up, took profits, then I took some long entries on the dip to $1490 and have now taken 50% of my profits at 1805 . The question though is will we actually move to $2000 from here?
I've talked a lot about control lines and how they can be used to judge bull or bear power within a move. We can see that price is now above the dotted control line in the middle of the blue channel so we should only be long buying dips or holding as bulls are in control. Interestingly though we now have a support ladder built with the top of support shown by the green line at around $1770 and we are now trading around the control line in the more steeper red channel. If prices trade above this line and as support is just below I see no reason why we cant extend into that red channel and head for the upper channel resistance line. We may see some sideways consolidation first of course.
We can continue to buy dips to support or hold as long as price remains above support and closes candles above the blue channel control line (or red one if it breaks into that channel). I'll keep updating as we go along. Hope your all banking good profits in Crypto as we move up.
Trade active
Banging our heads all the time now on that blue top channel wall. Up into the red we go? Trade closed manually
Sorry delayed update on this one, we never quite made it out of the blue channel and after musk's negative comment about crypto and a nice run to 2030 ish I took all profits. Lets see where this dip ends for more buying opportunity
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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.