DLavrov
Long

Ethereum New Entry Levels

POLONIEX:ETHUSDT   Ethereum / Tether USD
If we look at the daily chart of Ethereum             , we can see that the market is going to drop lower and probably 200.00 level will be a good target for this. We don't have solid signal confirming up or down movement and that's why we must be careful with any trading signal. It's better to wait for strong levels for buying. Let's think about possible trades based on lower time frame. It's the 4H chart and we can see the down trend. When price boucned from the support zone and came back to the downtrend line, we could expect a breakout with following up movement to the resistance zone . But price reversed from the downtrend line and dropped to 260.00 level. This level can be good for opening short term trades with target at the downtrend line. Stop for such long trades must be below 255.00 level. But if you want to open long trades with the solid confirmation that we have an up trend, it's better to wait when price breaks the downtrend line and 320.00 level. Also there are 2 possible levels for buying which are more interesting. If price breaks 260.00 level, the market will fall to the uptrend line and the support zone . Buying from these levels can be more safe and profitable variant. Stop orders for long trades must be below 200.00 level and profit targets at 300.00 and near the resistance zone . Don't forget that all reversal signals must be confirmed by bullish candles or reversal candlestick patterns and RSI reversal. Only after that we should open long trades.

P.S. If you think this information can be useful, please, like it and share. Also I will be glad to read your comments )
Kommentar: Price breaks the support level 260.00 and it falls to the uptrend line.
Kommentar: The market has potential for down movement to the uptrend line. Watch for price action near 260.00 support level.
Kommentar: Watch for price action near the uptrend line. If we get confirmed reversal signal, it will be buy opportunity.
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Excellent man !! Thank you !!
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Whether bitcoin is experiencing breakout....???
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Wow what a rolercoaster ride indeed. I am holding on for deer life with my short at 257.93. I still believe this is going to drop below 200. Any reason for you to suspect it might not be gong down ? I have my tp at 233.
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Is eth still droping to $200 sir?
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DLavrov SteveTon
@SteveTon, we still have such opportunity for Ethereum. But if price confirms up movement on the daily chart, probably we'll see a new wave to 380-390 levels.
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.... any new signal from ETH.....??? ETH Price move up so fast.....
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ETH is now increasing dramatically with BTC, do you think it is in the new uptrend? or maybe drop again?
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edwincarstrading zhaohongbo0816
@zhaohongbo0816, I see price is still moving within the triangle, so no confirmation yet. ETH amplifies uptrend of BTC sharply, but falls slow. I missed this bounce though, it was a nice long entry with resistance as take profit target :'(. Just my opinion, there are lots of pro traders, it would be nice to read their thoughts
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zhaohongbo0816 edwincarstrading
@edwincarstrading, thanks, i just bought from 263 so i think the entry is fine for me :)
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