Trade Opportunity 12: ETH (Update 9/11/19 11:59AM EDT)
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SHORT | Current: $176.12
SHORT Entry: $176 | Target: $165 | Stop Loss: $180
Wait before making a trade! ETH is expected to be volatile - don’t buy or sell before we reach an entry price!
We will update this trade each time it hits an entry, target, or stop loss price. To get notified, leave a comment on this thread!
Analysis:
Our short was stopped out, only for price to later return to break even - so we are back to shorting ETH!
Price is likely to come back to test the diagonal trend and major support at $165. Should Bitcoin price decline rapidly below $10,000 to low $9,000s. ETH can decline as low as $150.
SHORT | Current: $171.08
SHORT Entry: $175 | Target: $150 | Stop Loss: $180
Wait before making a trade! ETH is expected to be volatile - don’t buy or sell before we reach an entry price!
We will update this trade each time it hits an entry, target, or stop loss price. To get notified, leave a comment on this thread!
Analysis:
The crushing dominance of Bitcoin has had suppressing effects on every other coin. Even as Bitcoin price pushed higher to test $11,000, altcoins were still in decline. As this weakness in altcoins is expected to continue, we will look to short this market. Ethereum price trend has been trending with a diagonal resistance since early August and the market is expected to continue to honor that trend line. We will be shorting a test of that trend line at $175 before prices decline further.
From a 3 day candle perspective, the negative trend in Ethereum is very strong. Price has been falling week over week through several levels of support, pushing it’s way to the point of control (the strongest support) at $140. Ethereum’s trading volume has declining since December, and we are looking for a large volume candle on the 3 day before a bottom is in.
We will be shorting any temporary increases in price, with $176 resistance directly above, that is where our shorts will rest. If ETH declines below $165 market short ETH into our target as the decline will be rapid.
Trade Opportunity 12: ETH (Update 9/11/19 11:59AM EDT)
Trade Opportunity 12: ETH (Update 9/11/19 11:59AM EDT)
Trade Opportunity 12: ETH (Update 9/11/19 11:59AM EDT)
SHORT | Current: $176.12
SHORT Entry: $176 | Target: $165 | Stop Loss: $180
Wait before making a trade! ETH is expected to be volatile - don’t buy or sell before we reach an entry price!
We will update this trade each time it hits an entry, target, or stop loss price. To get notified, leave a comment on this thread!
Analysis:
Our short was stopped out, only for price to later return to break even - so we are back to shorting ETH!
Price is likely to come back to test the diagonal trend and major support at $165. Should Bitcoin price decline rapidly below $10,000 to low $9,000s. ETH can decline as low as $150.
SHORT | Current: $171.08
SHORT Entry: $175 | Target: $150 | Stop Loss: $180
Wait before making a trade! ETH is expected to be volatile - don’t buy or sell before we reach an entry price!
We will update this trade each time it hits an entry, target, or stop loss price. To get notified, leave a comment on this thread!
Analysis:
The crushing dominance of Bitcoin has had suppressing effects on every other coin. Even as Bitcoin price pushed higher to test $11,000, altcoins were still in decline. As this weakness in altcoins is expected to continue, we will look to short this market. Ethereum price trend has been trending with a diagonal resistance since early August and the market is expected to continue to honor that trend line. We will be shorting a test of that trend line at $175 before prices decline further.
From a 3 day candle perspective, the negative trend in Ethereum is very strong. Price has been falling week over week through several levels of support, pushing it’s way to the point of control (the strongest support) at $140. Ethereum’s trading volume has declining since December, and we are looking for a large volume candle on the 3 day before a bottom is in.
We will be shorting any temporary increases in price, with $176 resistance directly above, that is where our shorts will rest. If ETH declines below $165 market short ETH into our target as the decline will be rapid.