ETH/USD LONG, Potential 18.5% Upside (Swing Trade)
BITMEX:ETHUSD is currently sitting just on top of the range high and has yet to close below on the 12-Hour timeframe. I expect a bit more downside before another move up.
Looking to long the area from $222-$229 with a fairly tight stop around $220 where this trade setup would be invalidated.
Take-Profit target is at a former support level, where we could see it flip to resistance.
If I am not presented with an opportunity to enter a Long position, I will be looking to potentially short the former support level and will post that setup later on.
Looking to long the area from $222-$229 with a fairly tight stop around $220 where this trade setup would be invalidated.
Take-Profit target is at a former support level, where we could see it flip to resistance.
If I am not presented with an opportunity to enter a Long position, I will be looking to potentially short the former support level and will post that setup later on.
Yorum:
Cutting this position for a small loss, Bitcoin has broken through a key support level and the possibility for more downside is quite high.
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