And another repetitive beartrap... in ETH
Diupdate
The weekly indicators look strong, but daily indicators look stronger. We're testing the weak hands for now until we get into the daily RSI oversold zone (and confirm it in weekly) to close the long position.
>35% potentially in this Long entry (from 0.070ish to 0.095ish).
Since Ether against fiat (EUR/USD) completed the classic bubble crash pattern, it reinforces this bullish sentiment against bitcoin pairing. This means I think Ether will outperform Bitcoin during this "bullrun", and thus I'm splitting half stack from Btc to Eth. Will reinforce the position if I see confirmation later. Stop loss slightly below the blue 78.60% level that we tested overnight (0.065 zone). Risk to reward ratio over 5 looks gud enough to me to trust fake divergences and bullish MACD.
for the record, this is how weekly indicators look as of press time
Risky, but risk/reward of 5 it's too tempting. Wish me luck!
>35% potentially in this Long entry (from 0.070ish to 0.095ish).
Since Ether against fiat (EUR/USD) completed the classic bubble crash pattern, it reinforces this bullish sentiment against bitcoin pairing. This means I think Ether will outperform Bitcoin during this "bullrun", and thus I'm splitting half stack from Btc to Eth. Will reinforce the position if I see confirmation later. Stop loss slightly below the blue 78.60% level that we tested overnight (0.065 zone). Risk to reward ratio over 5 looks gud enough to me to trust fake divergences and bullish MACD.
for the record, this is how weekly indicators look as of press time
Risky, but risk/reward of 5 it's too tempting. Wish me luck!
Catatan
feeling very strong in this position, take a look at this Catatan
PS: the long trade quantity shown is the random predefined number that Tradingview plotted there. I just noticed that I never take a look at that number, I only want to know the risk/reward. I wish I had 52Eth... :DCatatan
oh! the hidden bullish continuation in 3 indicators was right! would you look at that... grabbing popcorn until the 50-day EMA crosses the 200-day EMA, then maybe I'll consider to reinforce the position with an all-in into the asset.
Catatan
even though we haven't made new highs, I still feel pretty confident on the "bullishness" of the asset, here's why: hourly detail of April the 24th
Daily MACD still looking strong, Stochastic indicator as of now is showing the same "fake divergence"
Look how the 50-day EMA is approaching 200-EMA, weak hands are being shaken right now... but I'll keep watching the charts.
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