HOLD | Current: $169.30
LONG Entry: $167.5 | Target: $181 | Stop Loss: $162
SHORT Entry: $181 | Target: $150 | Stop Loss: $186
Wait before making a trade! ETH is expected to be volatile - don’t buy or sell before we reach an entry price!
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ETH looks ready to pop as stochastics are turning over on many hourly time frames. The selloff may be exhausted and ready to bounce into resistance above (where we can short).
HOLD | Current: $161.50
LONG Entry: $132 - $140 | Target: $176 | Stop Loss: $130
I guess we should have stayed short… no position for now but we would like to long $132-$140 with a stop at $130.
HOLD | Current: $193.43
SHORT Entry: $206 | Target: $190| Stop Loss: $204
LONG Entry: $190 | Target: $206| Stop Loss: $186
Let’s ride this short from $206 into support between $188 and $190 where we can go long. If you don’t have a position, we can long down here with a tight stop as the trend has oversold itself and likely to bounce soon.
SHORT | Current: $206.30
SHORT Entry: $206 | Target: $196 or $190| Stop Loss: $214
Our short at $206 has triggered! Let’s look to close this one between $190 and $196. There is a significant lack of price action below $204 that should lead to an accelerated decline into our targets.
HOLD | Current: $217.15
LONG Entry: $222 | Target: $233 | Stop Loss: $215
SHORT Entry: $206 | Target: $196 or $185 | Stop Loss: $214
Ethereum has been pumping for 7 days straight for 25.6% returns, now is not the opportune time to be making oversized long positions. There’s a scalp trade to buy at $222 and close at $233 but we should be increasingly cautious of a reversal the closer we get to $233 as it is major resistance.
Daily stochastics have shown a three-time repeating trend that shows significant downside when Stoch and RSI hit the levels it’s currently at (shown on bottom). It makes sense to wait for the opportune short instead of timing a long position at the currently overbought position, for those who want to spend less time monitoring positions - either way there is money to be made.