Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/03/09

Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out!
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And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins!

Market Overview

• Price Action: Ethereum is continuing to show strength in both the ETHUSDT and the ETHBTC pairs. In fact, ETHBTC seemed to have found a bottom at the 61.8 Fib retracement on the Daily timeframe. Should this level hold and the bounce be genuine, ETH is bound for much higher prices and altcoins will likely also go on a massive run.
  
• Chart Patterns: N/A
  
• Areas of Interest: The area(s) of interest for me are the 200MAs @ $1720-1750. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time. Of course, it is possible we just pump to ATH of 2040s directly from here, in which case we will be looking for trading opportunities at that level.
  

Trade Setups
Below are the potential trade setups that I would be interested in trading:

Long Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back down to the 200MAs, currently projected to be @ $1720-1750 by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming

My Recent Trades

• 2021/03/05: I had a winning trade! I entered a long @ $1,540.0, with Stop Loss @ $1,522.4, and price reached a high of $1,670.0, giving a risk reward ratio of 7.4:1.
  
• 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit.
  
• 2021/02/20: I had two winning trades! I entered a ETHBTC long @ 0.035325, with Stop Loss @ 0.034577, and price reached a high of 0.036682, giving a risk reward ratio of 1.8:1. I entered another trade ETHUSDT trade long @ $2,003.1, with Stop Loss @ $1,965.6, and price reached a high of 2,022.0, giving a risk reward ratio of 0.5.
  

DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!

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