ETH/USD 1 year trend channel breakout

21 Nov 2020

ETH/USD 1 year trend channel breakout. Is this a bonafide breakout to continue into a new trend? I am not certain. It looks like it completed a cup and handle pattern on the 3 month, which means it's going parabolic from here. And the trend in newsworthy current events has been crypto bullish for a month+. On the volume side, from a supply / demand standpoint, it just looks like the upward price action is from less willing to sell, not from more wanting to buy. With that said, I'm not trading ETH at these levels. It doesn't fit in my risk management criteria for more than .25% account value if anything. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...

*3x lucky 7s of trading 101*

7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue & Earnings
Debt / Cash
Book value, assets

7 Common mistakes:
+5% portfolio trades
Bad risk management
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors

7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books
Sorted watch-list

Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
tradingview.com/u/growerik/

TradingView links:
tradingview.com/black-friday/
tradingview.com/gopro/?share_your_love=growerik

21 Nov 2020

Catatan

ETH Mining Difficulty just reached a 2-year high of 3,635,516,716,467,760

Previous 2-year high of 3,596,282,352,582,610 was observed on 15 November 2020

On August 9, 2018, Ethereum’s mining difficulty hit its all-time high of 3,651 terahashes