ETHBTC: 2 day timeframe in control
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In this chart I'm analyzing the time at mode trends present in this pair.
The trend is clear, we have potential of further upside, and we happen to be long as well.
If you're not in this trade, you could enter in a myriad of ways. Even if we happened to get a mode retest, we could still maintain a bullish bias, unless there is a break down with sufficient momentum to take out the previous low perhaps.
I see many are looking to short it, which reinforces my point here.
Good luck if you're in this trade, or looking to go long.
Keep in mind ETH has a habit of outperforming my expected targets, so, don't place any take profit orders (I wouldn't even place stops and just own coins, no leverage...and exit manually if it fails)
Cheers,
Ivan Labrie.
The trend is clear, we have potential of further upside, and we happen to be long as well.
If you're not in this trade, you could enter in a myriad of ways. Even if we happened to get a mode retest, we could still maintain a bullish bias, unless there is a break down with sufficient momentum to take out the previous low perhaps.
I see many are looking to short it, which reinforces my point here.
Good luck if you're in this trade, or looking to go long.
Keep in mind ETH has a habit of outperforming my expected targets, so, don't place any take profit orders (I wouldn't even place stops and just own coins, no leverage...and exit manually if it fails)
Cheers,
Ivan Labrie.
Nota
I didn't place a stop loss on chart, but if going long at market, give it a 15% room to the downside, as safety net. This lets you calculate position size, based on your risk appetite. If you want to risk 1%, you'd spend 15% of your trading capital, buying coins with no leverage now and exit if 15% lower.Nota
Sitting a the mode support, not take off yet.Remains bullish while above this zone.
Nota
New 14 bar mode on close.
Rgmov readings are indicating that the sentiment for ETH is currently bearish, but the chart is set up like an uptrend, although currently stuck in a consolidation.
Nota
Back at the support. This is where buyers should step in, else, if trading below 0.02041, the ETH rally will be in serious question.Nota
A close above the level we're at might indicate buying pressure.
Monitoring the time and price targets for the downtrend signal created after we dropped below the 2 day chart mode.
Nota
Next week is the 5th one without a new high. If it closes under the weekly mode from the high, buyers are in trouble.Nota
Nota
Selling has been absorbed, as depicted, 0.015-0.02 was the buy zone.
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