ETHUSD: Fundamentals improving, uptrend resuming
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ETHUSD has a very nice chart setup, showing proof that bulls stepped in right around the Key level associated with the DAO crowdsale announcement, where major players and new money came into ETH pairs, making ETHUSD and ETHXBT rally as a result of the increase in speculative interest in it, and its love-child, the DAO (descentralized autonomous organization).
The weekly chart is clear as well, and presents a sound technical argument for further upside, so, I'm holding the longs I'm in from around the 10 handle, give or take.
If you're not long, you can jump in now, and risk one average daily range below the key level to be extra safe.
Minimum target would be a retest of the DAO hack key level above, from where the fundamental damage, eroded buyers confidence, sending the pair down rapidly, although, with very little follow through. An excellent buying opportunity...
Once we break over the highs, we could continue to march even higher, fulfilling one of the potential weekly uptrend targets on chart. See comments for the weekly setup.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance 0.02% on such information.
The weekly chart is clear as well, and presents a sound technical argument for further upside, so, I'm holding the longs I'm in from around the 10 handle, give or take.
If you're not long, you can jump in now, and risk one average daily range below the key level to be extra safe.
Minimum target would be a retest of the DAO hack key level above, from where the fundamental damage, eroded buyers confidence, sending the pair down rapidly, although, with very little follow through. An excellent buying opportunity...
Once we break over the highs, we could continue to march even higher, fulfilling one of the potential weekly uptrend targets on chart. See comments for the weekly setup.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance 0.02% on such information.
Nota
Nota
Seeing the interplay with the key levels proves to be a fruitful exercise if you know where and for what to look.Nota
Weekly uptrend confirmed, target is around 40usd.Nota
Once above 15.35 it'll be a walk in the park.Nota
DAO hack key level will soon be toast at this rate, unless something changes in the fundamentals.
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