RSI oversold on the Daily, ETH
Diupdate
In the wake of worthless news driving down the market, it's important to reflect on your plans, your trading and what you are doing.
if you follow me you know that I ladder my positions. That's how I manage my risk. I have ladders going down from here to this 275-300 area on ETH. That's how I trade.
You can see here that we have an immense amount of support here on the volume profile, price and the oversold RSI has bounced from this oversold state 4 times in the past pretty significantly each time.
If you want to look for confirmation, look for this near trendline to break.
Have patience, pick your points and stick to your plan.
Happy Trading,
-Sherem
if you follow me you know that I ladder my positions. That's how I manage my risk. I have ladders going down from here to this 275-300 area on ETH. That's how I trade.
You can see here that we have an immense amount of support here on the volume profile, price and the oversold RSI has bounced from this oversold state 4 times in the past pretty significantly each time.
If you want to look for confirmation, look for this near trendline to break.
Have patience, pick your points and stick to your plan.
Happy Trading,
-Sherem
Catatan
please read the ETH/BTC post if you haven't already - 
Catatan
Looks like $300 is here a lot sooner than I thoughtCatatan
*coming hereTrade aktif
trade has already been active, but I had a great fill last night at 306.10.Catatan
watching these buy and sell orders this morning has been intense. At one point there was a 7k eth sell order hoovering around 300. It's actually surprising we haven't gone done more with this much selling being present on the books.Catatan
Keep in mind that if we don't hold this 275 area, we could go as low as $200. ETH just keeps getting hammered, both ETH/USD and ETH/BTC are extremely oversold at this point.Catatan
If we crack this $275, we could go up in a hurryCatatan
nice doji candle on the daily, we need to break this trendline for any type of sustained move upCatatan
Hoovering at this trendline. MACD had a strong cross, but it needs follow through. we could get a big move here if ETH starts breaking up along with BTC.Catatan
So, you should be in a great spot if you laddered your positions in. ETH is trying to bust up. continuation triangle and it's trying to bust that trend lineCatatan
And if you think it's to late. It's not! buy now. it's LOW. Enter in small, have some ladders below if you need to, just don't wait!Catatan
we're off to the races.Catatan
Once we get a breakout on BTC, everything is confirmed, we are confirming on ETH right now. Since I have gotten this question a couple times, my ETH target is that point D on my chart, in the 500-550 area. We could, possibly, go to 800. We have to see how things form up once we start going up and buck this down trend, which we are close confirming.Catatan
Update: 
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