ETH has arrived at an interesting level. The probability is very high that ETH will go north, but – and this is the key question – are the bulls able to go through the sore point (blue bar in the chart above) or not. If not we will see 120$!
Version 1 (blue line in the chart)
ETH goes up to the sore point. There the battle is decided between the bulls (up to all-time high) and the bears (detour to 120$ an then right back to all-time high).
Version 2 (red line in the chart)
ETH goes down to 120$ directly and starts the bullrun to the sore point from there. The result is the same: the battle is decided at the sore point.
So, what can you do? How to manage this?
Stay calm and have a look if ETH leaves the trend channel --> if yes, buy (target: sore point), if not ETH goes down to 120$ (maybe short, but this is a matter of taste). Form there (120$) --> buy (target: sore point). If stops are placed clever you are optimally positioned for both options decided at the sore point!
Please leave a comment or a message, if you have any questions!
Take care tgo
Kommentar
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Hello everyone, looks like the red line is going to make it. Most likely we have seen wave 4, so we are in the final wave 5 of 5 of y of 2. The yellow box in the green box would be a perfect landing of the final sell-off. Take care, tgo
Looking at the volume dropping on ETH usually what follows is an uptrend maybe $360, however my fears are that we are indeed heading south. For me I'm hoping so as I have a nice bag of GBP waiting for the drop. My target is 225 however, I'm thinking of buying bitcoin rather than ETH
HK-Capital-Management
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@CraigLancaster,
BTC is the same thing: maybe moving up to 7,200$ an then heading south to 5,200$ or even deeper to 4,970$. I think we will see clearer the next weeks or month. Having an nice bag of GBP is perfect!
Take care... tgo
crayola11
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Thanks for the TA... Please keep up more ETH and longterm eth updates!
HK-Capital-Management
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@crayola11,
Thank you very much! I especially like longterm analytics. That's exactly what I want to do.
UnknownUnicorn2138412
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Useful analysis, thank you for share!
HK-Capital-Management
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@pcarballeda,
Thank you very much! I hope it helps!
milancondsa
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Perfect analysis , what is your market perception , while analysis is in favor of 120$ more than sore point direction
HK-Capital-Management
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@milancondsa,
thank you very much! Thats's not easy to say at this point. I thik we have a 50:50 chance for both directions. The thing is: both ways lead to sore point, so now we have to wait for movements to decide if we go up or detour down to 120$. In my view 120$ isn't unlikely at all.
milancondsa
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@tradingguideonline, I think so, depend on long or short term view, long term sore point is achievable 99% (I think during next 6 months)
HK-Capital-Management
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@milancondsa,
Exactly! I think it is even achievable during the next 3 months (long term, sore point).
Sorry for my horrible english!