ETH $1400,- target! Finally ready for the bounce?

BITTREX:ETHUSDT   Ethereum / Tether
Risk: Medium/High

Please be advised that this is only an idea, so you are responsible for any losses yourself.

Dear followers,

I hope you have been able to avoid big losses by following my ideas and on Twitter and here. This was more than a correction. This was a crash! Most coins do not look good for the short term. In my opinion Ethereum is the first coin that is ready for recovery. We needed to see a correction like this to gain power to reach higher levels again. Nothing goes up in a straight line.

 After we broke our strong support, (A) we immediately saw a crash. This happened with almost all coins yesterday.

Ethereum has tested his strong support twice, blue support line (1). We also find our fibonacci level here. 0.618. This is also a strong support normally. Because the other big currencies look worse for the short term, I advise you to always use a stop loss. A close below the blue support line towards our 50ma (yellow line) and the dotted line.

I've more information for this chart but I'm very busy at the moment, so I don't have time to type it. But I had to share this idea with you. I'll update it later.

Target 1: 1034
Target 2: 1210
Target 3: 1389

Good luck!

Please, follow and like for more trading ideas.

Questions? Feel free to ask and your feedback is welcome!
Kommentar: We need a close above the blue support line today, to look for higer levels.
Trade geschlossen: Stop wurde erreicht: The bears are strong, the volume increased, but I saw a buy a disapear like snow before the sun $600,- is likely now.
Kommentar: I meant a buy order of 2 million dollars.
Trade ist aktiv: I reopen this trade. Volume is increasing and this time we see green candles besides that we received two buy signals on the hourly chart. (RSI & macd)

If this happens we are ready for the bounce :-)
Trade ist aktiv:

2 confirmations! Let's do this!
Trade ist aktiv:

Alright, we are going up again. :) We don't have real resistances on our way up. 20ma could be a resistance and next real resistance is the dotted line (2)

We need a close above the support line (1) to continue our uptrend after the correction (crash). We are currently trading above support.
Trade geschlossen: Ziel wurde erreicht: First target reached. I'll keep updating this chart for our next targets.
Trade ist aktiv:

Our channel for coming hours
Trade ist aktiv: Next resistance to break.

Trade ist aktiv:

Ethereum is te strongest coin in the top 5 today. We tested resistance (2) but it failed to break. We need a close above support line (1) to continue our uptrend towards $1400,-
Trade ist aktiv:

We still need a close above support (1) every day. Hourly we just beated the 50ma, a strong resistance and support level during last week. This could be a new support level for the short term.

A test of resistance (2) is possible today. If this doens't happen I expect a break within 3 days. Were (1) and (2) crosses.
Trade ist aktiv:

We just broke an important resistance level again. Furthermore a new support level is formed.

Target 2: Reached :)

I took some profit, but I have still a large position in ETH.

Hourly, we see some oversold conditions. So a quick pullback towards the dotted lines is possible. If this doesn't happen next hour. We will find some resistance around 1294.

For the longer term, macd already gives us a buy signal. This is a good signal to reach our final target.
Trade geschlossen: Ziel wurde erreicht: I'll keep updating this chart for the final target. See the comment above for coming hours.
Phew. Was worried about the lack of updates. So many damning corrections lately but good to see thing back on track :)
+1 Antworten
@pcbjai, No worries mate. Yep, we saw some correction, but we kept trading above our strong support level (1). I just noticed that I mentioned it as a resistance level, but it has to support level ;)
Not seeing a breakout from my chart. It touched line
+1 Antworten
Jelmerrr rob2093124
@rob2093124, the chart of which exchange do you use?
rob2093124 Jelmerrr
rob2093124 Jelmerrr
@Jelmerrr, I could be wrong, but it looks like your 1st 2 points aren't exactly touching your line. If you fine tune that, you might see the same thing.
+1 Antworten
Jelmerrr rob2093124
No you're right. ;) There is a difference between exchanges and therefore also the charts. Let's see what next hours will bring us. Thanks for sharing!
+1 Antworten
rob2093124 Jelmerrr
@Jelmerrr, Oh, yea we are on different exchanges. thought we were using the same. Should have double checked
+1 Antworten
Jelmerrr rob2093124

Now we have confirmation on Poloniex too :-) Good luck!
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