EthereumPanjang
[CRYPTO] Ethereum: Bottom Is NOT In Yet
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Hello everyone,
in this idea we're going to have a look at the ETHUSD price for a mid- and long-term long position.
We're looking at the Weekly chart, which is the best timeframe to verify the primary trend and it's also a starting point
for a proper trading plan.
In times of uncertainty and bad news (which is fairly common when the market is bearish) it's very important to distance yourself
from any sort of emotion (fear, undoubt, you name it) and act according to a rational plan. The crypto market is insanely volatile
and this can trigger a lot of negative emotions that result in either panic buying or panic selling.
As soon as you rush into a positon, you'll start to watch the chart constantly and ask yourself if this was a good decision or not.
These are common mistakes that we want to avoid. So let's start with a very simple view on what is currently happening.
Of course there's the possibility of a multi-year bear market, like we've seen in the previous cycle. No one can tell you if this will happen or not - technical analysis won't help you with that - but let me tell you that a bear market would be a blessing. Use the spare time to stack up some cash (avoid Stablecoins, lol) and enter the market at a price that you're comfortable with. Take some time off - set push notifications for important price levels and let the market slide. Ethereum is not just a speculative asset, it's a platform for the future of finance. Keep that in mind.
If you like this idea, please let me know by commenting or liking. Feel free to share your own idea in the comments as well. Also, check out the stuff below ⤵️
in this idea we're going to have a look at the ETHUSD price for a mid- and long-term long position.
We're looking at the Weekly chart, which is the best timeframe to verify the primary trend and it's also a starting point
for a proper trading plan.
In times of uncertainty and bad news (which is fairly common when the market is bearish) it's very important to distance yourself
from any sort of emotion (fear, undoubt, you name it) and act according to a rational plan. The crypto market is insanely volatile
and this can trigger a lot of negative emotions that result in either panic buying or panic selling.
As soon as you rush into a positon, you'll start to watch the chart constantly and ask yourself if this was a good decision or not.
These are common mistakes that we want to avoid. So let's start with a very simple view on what is currently happening.
- Yesterday, Mr. Powell (FED) mentioned that further interest rate hikes are planned for june & july (50 basis points each) with 75 basis points being the worst case scenario. Many experts lean towards the 50 points raise but make sure to not ignore the possibility of the second scenario. There's a lot of fear in the market and the FED prioritizes the fight against the inflation while the risky assets such as stocks & cryptos will take a strong hit.
- This is mandatory for our plan for two reasons. We can observe a Rounding Top, which was confirmed with a lower high in March 2022. The primary trend is downwards, so we either take a short position (absolutely not recommended, except you're experienced) or we look for good entry zones.
- Following this logic, a further increase of the interest rates and more money moving out of this asset class is the perfect scenario to load your bags for the next bull run.
- The weekly shows us that there's still much room for a lower price. Everything below the $1500 level is an opportunity to add some ETH into my portfolio. I'm specifically talking about the Sport Market. Avoid future contracts or margin trading when the market is that volatile.
- Prepare yourself: set limit orders at your personal buy zone and don't try to time the market. We have all the tools to dramatically increase our profits by following simple logic - use these tools and you're good to go.
Of course there's the possibility of a multi-year bear market, like we've seen in the previous cycle. No one can tell you if this will happen or not - technical analysis won't help you with that - but let me tell you that a bear market would be a blessing. Use the spare time to stack up some cash (avoid Stablecoins, lol) and enter the market at a price that you're comfortable with. Take some time off - set push notifications for important price levels and let the market slide. Ethereum is not just a speculative asset, it's a platform for the future of finance. Keep that in mind.
If you like this idea, please let me know by commenting or liking. Feel free to share your own idea in the comments as well. Also, check out the stuff below ⤵️
Nota
Previous idea for BTCUSD (Caught In a Bear-Flag)![[CRYPTO] Bitcoin Caught In A Bear-Flag | Possible Trading Setup](https://s3.tradingview.com/w/wh0LKE3d_mid.png)
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