POLONIEX:ETHBTC   Ethereum / Bitcoin
A daily summary of the previous day’s market activity and review of current state of market on Cryptos.

Analysis
Co-Relation with Bitcoin


As we can see a major resistance at the red ray and the buyers are dead at the moment as I can see a 100% retracement near the resistance. As you can see the Blue parallel region Price didn’t breach 13000 USDT and 16000 USDT so, buyers and sellers are not decided yet where the market will go. I anticipate that price can fall up to 16000 USDT and then bears will gain some momentum and then fall up to 13000 USDT. As we are Co-relating with BTC             Alts may have some selling rite now that gives us a nice pullback so, that buyers can buy at cheaper price.

Daily Time Frame read

On the daily TF after the price breached the red ray and green ray (S & R) we are officially in buyer’s territory and holding above the buyer’s territory. We have strong buyers and strong sellers. I have done few buys in the past and then sold all my positions once my TP hit. We got a nice pullback as the bears are in control as of now and struggling to go Low as we are working with the important support at the green ray region. I anticipate that price will leave a wick touching the red ray and then shoots up. As of now there is no sign of buy or sell on the Daily.

240H Time Frame read

On the 240H after price breached the orange line we can see some selling pressure coming up and bears are not giving any chance for the bulls to gain some momentum as you see no pull back for buyers to sell for cheaper price. It’s hard to do sell right now because RR is less and bulls are in control.
Entries, Exits
There is no logical reason right now to short ETH because I don’t have room to do a sell hoping that buyers are not giving pullbacks and gobbling up all the time. So, I have only option to go long by correlating with BTC             .
Aggressive Entries and Stop loss
If you are quite aggressive in nature and don’t want to lose few Sats             then you can enter the trade once the price come down to green line and leaves a big wick on the bottom. SL below the wick.
If price don’t come until there your entry can be above the 0.06 Sats             . SL below green ray.
Conservative Entries
If you are conservative in nature then you can enter the trade one we get pullback to the green line and then leaves a wick at the bottom, come up aggressively and then holds there for a bit and then making a miniature HH then you can enter the trade and SL below the wick or Green line.
If price don’t come until there leave the trade let it go off, why buying so high. We need pullbacks to buy.


Risk Management
• If you are an aggressive trader you can risk 2% of your capital on this trade.
Tight SL below green ray. Position Size should be calculated based on 2% of the capital/SL by Sats             .
RR should be at least 1:2; I am not specifying any targets as of now because the entry is speculative atm.
HODL overnight not more than that because BTC             market is speculative atm.
• If you are a Conservative trader you can risk 1% of your capital on this trade.
Wider SL below the wick under the green Ray.
Position Size should be calculated based on 1% of the capital/SL by Sats             .
RR should be at least 1:2; I am not specifying any targets as of now because the entry is speculative atm.
HODL overnight not more than that because BTC             market is speculative atm.
Trade Management
• Remove 50% of your profit once you make 5% on your investment and make SL to ‘0’ (Aggressive and Conservative entries).
Add few more position once you see a HH and struggling sellers in between the green ray and orange ray.
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