Hi, yesterday we had an attempt at major turning price level 0.03 and we broke it on Kraken. On Poloniex, huge sell walls (15000 ether in one order, etc) appeared and scared the buyers who stopped at 0.02995, which is rather sad.
We got stopped out of our trade (and partly exited manually since it was clear buyers are there, just not willing to finish this fight today).
However, we still look Bullish. 40% RSI held as support yet again. Trendline held as support too. BTC is in free fall mode and thus ETHXBT is getting some extra fuel. I see the current zone as an accumulation zone and expect another attempt at 0.03 within 24 hrs.
Target :
1st - 0.02995 - see if we can break this time, if not, close the position
2nd - 0.05xxx
Stop loss:
Rather tight this time, 0.0265
We got stopped out of our trade (and partly exited manually since it was clear buyers are there, just not willing to finish this fight today).
However, we still look Bullish. 40% RSI held as support yet again. Trendline held as support too. BTC is in free fall mode and thus ETHXBT is getting some extra fuel. I see the current zone as an accumulation zone and expect another attempt at 0.03 within 24 hrs.
Target :
1st - 0.02995 - see if we can break this time, if not, close the position
2nd - 0.05xxx
Stop loss:
Rather tight this time, 0.0265
