Updating my previous ETHXBT chart, we seem to be retracing the recent decline. Now, this could be an uptrend continuation setup, or simply a detour before more downside.
Ideally, you could have entered longs where I covered my shorts, (which I didn't get to do). Currently, the lower timeframes might allow an entry on the long side, if offered with a safe setup I'll update the chart. For the time being, monitor price action in the coming days, it's logical to see a move up to 0.03175 at least, but could even go higher.
Good luck, trade responsibly, measure your risk as % of account in any trade you take, to the level where you invalidate your analysis (if you don't have a clear invalidation, you really shouldn't be in the position to begin with).
Cheers, Ivan Labrie.
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Dangerously approaching the speed line again. We broke below support, not too bullish currently. I'd be careful if long.
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Price formed a W bottom in the ETHXBT chart, ETHEUR remains net bullish, and with big upside left.
Trade ist aktiv
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We're long ETHXBT.
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Excellent progress, hold longs.
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Testing the speed line again. The new lows and the sharp down day might be a bear trap, people must be thinking this is a head and shoulders top (I think it's not)
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The bitcoin rally has excited the bears in this pair, probably the H&S top crowd. Yet, the strong buying zone we observed on March 18th is holding. Let's see how it evolves from here. It might give a good long entry again soon. It appears to be consolidating still, so keep risk small.