ETH/USD has been in the process of consolidating down here for a substantial amount of time. In my previous update, I stated that most of the minor downtrend lines had been broken, but we are potentially forming a downward continuation pattern right now since we haven't broken to the upside. See the 2 blue circles highlighted comparisons. As much as I think it's going to move to 500 by the end of September, it's key we don't let our emotions get in the way and look at the possibility that it could continue down.
If we look at this daily chart you can see more of the triangle continuation pattern that i am talking about. If we compare this potential run-up to April, you can see that we have broken the initial trendline just as we did in April.
Just before we had the run-up we got another push-down. Are we getting that right now before the big run up? Or do we need to come to that other 2nd major trendline before hitting the final one near 350? I highlighted these questions in the red circles.
Make sure you have your plan in place. For either scenario. I have 1 more ladder entry down above 200, around 230. If you are into ETH heavy, you could parse some of your loses and look to buy lower if it breaks down.
Happy Trading,
-Sherem
P.S. Make sure you have a plan right now, stick to it. Pick your points and don't use leverage!
If we look at this daily chart you can see more of the triangle continuation pattern that i am talking about. If we compare this potential run-up to April, you can see that we have broken the initial trendline just as we did in April.
Just before we had the run-up we got another push-down. Are we getting that right now before the big run up? Or do we need to come to that other 2nd major trendline before hitting the final one near 350? I highlighted these questions in the red circles.
Make sure you have your plan in place. For either scenario. I have 1 more ladder entry down above 200, around 230. If you are into ETH heavy, you could parse some of your loses and look to buy lower if it breaks down.
Happy Trading,
-Sherem
P.S. Make sure you have a plan right now, stick to it. Pick your points and don't use leverage!
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Previous analysis for reference.
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Please like the idea to show your support, thank you!
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Ether futures seems to be in the cards... that's huge news. twitter.com/fintechf.../1035250609153294336
www.financemagnates....ore-the-end-of-2018/
www.financemagnates....ore-the-end-of-2018/
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I believe Business Insider was the first one to report it, but you need a subscription, here is the link - www.businessinsider....e-way-at-cboe-2018-8
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If we zoom in we can see the consolidation wedge is basically broken. We should hit 320 pretty easily now and once that breaks we will be moving much higher.
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If you have been reading my posts you know my final ladder got filled down here at 225. Going into hodl mode now. Crazy moves on these things.
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Charts like this, reassure me that we will get a move up.
Ethereum shorts.
Ethereum shorts.