Hello Traders,
New Thesis on ETHBTC,
Points to consider,
- Major support broken,
- Lower lows market structure
- RSI neutral
- Fib extension target met
- VPVR volume transacted extremely low in this area
- Volume climax candles present on 4hr time frame
- Stoch still on down wards momentum
ETH needs to rebound where it is able to retest resistance, there is no need to enter ETH at this stage as it is equivalent to catching a falling knife, we need to see a proper trend reversal and a break of the NOW major resistance before taking any positions, becareful !
What are your thoughts? Please leave a like and comment
and remember,
“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota
New Thesis on ETHBTC,
Points to consider,
- Major support broken,
- Lower lows market structure
- RSI neutral
- Fib extension target met
- VPVR volume transacted extremely low in this area
- Volume climax candles present on 4hr time frame
- Stoch still on down wards momentum
ETH needs to rebound where it is able to retest resistance, there is no need to enter ETH at this stage as it is equivalent to catching a falling knife, we need to see a proper trend reversal and a break of the NOW major resistance before taking any positions, becareful !
What are your thoughts? Please leave a like and comment
and remember,
“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota