Bullish Divergence Formed on Ethereum for Scalp Trade

cryptokraze (72)in #bitcoin • 7 years ago

CryptoKraze here

In this post I am going to cover technical analysis of Ethereum for scalp trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of Ethereum.

Possibility on 15 Minutes Chart

If you look at the 15 minutes chart, you will see that a bullish divergence has formed because price has made lower lows and RSI is making lower high, which mean blue lines are going opposite direction. RSI has gone below 30 level and now moving nicely above 30 level, so I am expecting it to go even higher. Price has touched the lower bollinger bands and now it will move up nicely. I have taken this trade as a scalp to make some quick profit.

I have a buy entry at $680 my profit target will be around $730 or above if this divergence is successful.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts
Bitcoin Correction Almost Done - Get Ready for Boom
Averaging Technique in Crypto Trading

If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose.

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