Crypto Analysis Report 4-11-18 Ethereum...Downside Momentum Over...Example Of How I Get Into Aggressive Trades

I last posted about Ethereum on 3/27/18,

Crypto Analysis Report 3-27-18 Ethereum...Sitting In Weekly Demand NOW

I mentioned to look for some conviction, meaning proof that price wants to move higher. I mentioned for conservative traders look for price to take out the sell orders at the $650 level. Once this level is taken out, I expect price to pull back when it gets to the $700 level (highlighted by the green arrows). During this pull back, look for demand orders on a 4 hr chart to then go long to my 1st target at $1200.

I want to talk about what needs to happen first...the first signs of convictions:

• Once price entered the weekly demand zone, price found a floor and is holding the lows at $350 (orange line).

• Price broke and closed above the daily trend line.

• Daily candles are making higher lows.

• RSI broke the down trendline.

• Buyers needs to take out first stack of sell orders at $450....this is confirmation a the down trendline violation (but not termination of a down trendline).

Two Options For Entering Aggressive Trade

• Place a market buy order once price closes above $450 for a break out trade.

or

• Wait for pull back once price closes above $450, then find a stack of buy orders on a 15 min or 1 hr chart.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.