ETH: Stairway to Bear Heaven
מעודכן
ETH is halfway down into oblivion. How deep is the rabbit hole? Well it depends but I think it will be between 95 and 150. Here is why:
It depends on what BTC will do. ETHBTC has major support at 2.4m satoshi levels:
Bears are targeting that support level right now.
From ETHUSD side of things, the bear flag is targeting 110$:
If BTC continues sideways, ETHUSD should hit ~140$ with 2.4m sats
If BTC breaks its descending triangle and move towards 5200 we will see bear flag target of 110$ being hit with 2.4m sats
If BTC goes below even further I'd expect ETH to find at least a temporary bottom at 97 $
"Great thanks for giving such a huge range. Great help!" you might say. My selling target will be based on where ETHUSD will be when we hit roughly 2.4 M sats. Stop loss 200$.
This isn't a financial advice. TP has been done for bears who shorted at 290$ levels. This is a dangerous trade and a highly speculative one as well. I would suggest not to risk more than 2% of total capital as a rule in trading.
Safe Trades!
It depends on what BTC will do. ETHBTC has major support at 2.4m satoshi levels:
Bears are targeting that support level right now.
From ETHUSD side of things, the bear flag is targeting 110$:
If BTC continues sideways, ETHUSD should hit ~140$ with 2.4m sats
If BTC breaks its descending triangle and move towards 5200 we will see bear flag target of 110$ being hit with 2.4m sats
If BTC goes below even further I'd expect ETH to find at least a temporary bottom at 97 $
"Great thanks for giving such a huge range. Great help!" you might say. My selling target will be based on where ETHUSD will be when we hit roughly 2.4 M sats. Stop loss 200$.
This isn't a financial advice. TP has been done for bears who shorted at 290$ levels. This is a dangerous trade and a highly speculative one as well. I would suggest not to risk more than 2% of total capital as a rule in trading.
Safe Trades!
הערה
At this rate target will be reached before the weekend:הערה
SL Triggered. Waiting for a better entry position. Will keep this idea updated because I still think ETHBTC is heading for a double bottom at 2.4m sats at least
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.