ETH UPDATE - BUYING @ 850 - Buy zone reached, Strong Bullish rejection.

in bitcoin •  8 months ago

Hi Steemians,

Apologies for the delay I wanted to call this a couple of hours ago when it was moving, but I've had issues with Steemit not letting me post due to bandwidth!

We mentioned the buy zone on the ETH post last night. We reached that zone last night and price rejected strongly showing us the bulls could have arrived. This level is extremely significant. It is our thoughts that incentive on ETH has gone from Bearish to Bullish following a 61.8% retrace of last years move. Now we are looking for confirmation in the form of an A&E double bottom and that seems to be what has just happened.

If this pattern confirms, we now have a HIGHER LOW. The best confirmation of a trend change.

We are long ETH at $850 with a secondary buy order over $950 which will give us the long term trend breakout to the high side!

Position one Stop loss is under $700

Target is being left open ended as we will likely use a Trailing Stop loss once price has begun to move in our favour.

ETH UPDATE2.PNG

like.share.gif

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!