ETH has been consolidating for a long while, and is starting to show signs of wanting to bust up. There's been a retrace. Now is a good chance to enter long for a quick profit.
Nota
US equities are in the red. BTC et al. still follow them, contrary to some posts. The stage is set for a break up once they go green.Two knocks on the ceiling is a double top. Three or more is a weakening of it.
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ETH is at 1336; it has finally broken out, and this position is finally in profit after an long drawdown. But, in fear of downside risk, I am probably going to close the long soon, probably minutes after the FOMC meeting hits at 1:30 pm today, which IMO should boost everything, if only for a short while. (I have a long term bearish outlook for most crypto now...)Nota
ETH peaked at 1:40 pm @ 1353 before taking a dive to 1300, so my sell timing was very good.IMO this was a classic buy the rumor sell the news situation: inflation was obviously low, so the yesterday's CPI would be good. So people bid things up. When the FOMC news was indeed good, a few last minute buyers bought, but overall the traders had to reverse since they had already gotten long during the rumor phase, so the price collapsed soon thereafter as a result.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.