ETH Update 4HR TF
ETH had a nice rip to the upside after breaking through the 50 & 100SMAs.
As I mentioned previously, I took my first long when I saw it breaking through the 50 & 100, & noticed that there was going to be a Golden Cross within the next 8 hours.
I then noticed that the 9SMA was turning up and looking to start ripping through the higher SMAs, which it ended up doing, so I got even more bullish then.
Things to note:
- the 9SMA has been on a tear and just crossed above the 200 iat 8PM EST
- I would be looking to add to this position if we re-tested the 200 (red line) @ 1690ish. If not, no worries
- we are facing downward slopping resistance from the Nov ATH, but bullish alignment of the MAs makes me confident that any pullback would be followed by a move up to the Golden Pocket
- TP #2 $1805 GP & major liquidity zone
- TP #3 $1815 GP & major liquidity zone
IF we smashed into the GP, I would expect some kind of back-test of the downward trendline, and decide from there whether I want to get back in and ride ETH to the 0.786 @ $1900 or not.
Always DYOR and manage risk. We are still macro bullish until the 50 crosses the 200 on the daily chart, and I'm ultimately looking to build-out a nice short position, assuming my bearish thesis doesn't get invalidated.
As I mentioned previously, I took my first long when I saw it breaking through the 50 & 100, & noticed that there was going to be a Golden Cross within the next 8 hours.
I then noticed that the 9SMA was turning up and looking to start ripping through the higher SMAs, which it ended up doing, so I got even more bullish then.
Things to note:
- the 9SMA has been on a tear and just crossed above the 200 iat 8PM EST
- I would be looking to add to this position if we re-tested the 200 (red line) @ 1690ish. If not, no worries
- we are facing downward slopping resistance from the Nov ATH, but bullish alignment of the MAs makes me confident that any pullback would be followed by a move up to the Golden Pocket
- TP #2 $1805 GP & major liquidity zone
- TP #3 $1815 GP & major liquidity zone
IF we smashed into the GP, I would expect some kind of back-test of the downward trendline, and decide from there whether I want to get back in and ride ETH to the 0.786 @ $1900 or not.
Always DYOR and manage risk. We are still macro bullish until the 50 crosses the 200 on the daily chart, and I'm ultimately looking to build-out a nice short position, assuming my bearish thesis doesn't get invalidated.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.