Hello Traders!
So much excitement in the cryptosphere! DeFi blowing up, ETH hitting $300. Where to next? Are we going to see a healthy pullback prior to BTC breaking out of its current consolidation or will be blast off to the moon from here? Time will tell, it always does!
Please take a moment to leave a like and a comment if you have anything you'd like to say!
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ETH is looking a little toppy and in need of a pullback after hitting $300. If we close below the purple support line at $302.65, then I'm short to $285.
There is a lot of support at $285. If price reaches here, then I will see about longing back to the top of the ascending, broadening, wedge.
If price breaks below this point, then I'll be looking for further downside.
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Entry: 302.65
Entry Zone: 306.85-300.65
T1: 300.00
T2: 298.25
T3: 294.25
T4: 289.60
T5: 285.00
Stop: 308.43
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R:R: 3.05
Risk: 1.91%
Reward: 5.83%
Leverage: 12X
Leveraged Risk: 22.92%
Leveraged Reward: 69.96% <--- Great Number! -_-
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This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
So much excitement in the cryptosphere! DeFi blowing up, ETH hitting $300. Where to next? Are we going to see a healthy pullback prior to BTC breaking out of its current consolidation or will be blast off to the moon from here? Time will tell, it always does!
Please take a moment to leave a like and a comment if you have anything you'd like to say!
---
ETH is looking a little toppy and in need of a pullback after hitting $300. If we close below the purple support line at $302.65, then I'm short to $285.
There is a lot of support at $285. If price reaches here, then I will see about longing back to the top of the ascending, broadening, wedge.
If price breaks below this point, then I'll be looking for further downside.
---
Entry: 302.65
Entry Zone: 306.85-300.65
T1: 300.00
T2: 298.25
T3: 294.25
T4: 289.60
T5: 285.00
Stop: 308.43
--
R:R: 3.05
Risk: 1.91%
Reward: 5.83%
Leverage: 12X
Leveraged Risk: 22.92%
Leveraged Reward: 69.96% <--- Great Number! -_-
---
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
Note
Using VPVR on the 4H chart, we can see very strong support at the $285 area. If we breakdown from here, there is a good chance we'll hit that target. Note
Here we can see the yellow 4H 21EMA creeping up to the $285 are and the 0.5 Fibonacci level smack dab in the middle of my $285 support zone (the area between the two purple lines). Note
Regardless of whether we continue the ascent from here or see a pullback or complete breakdown, there is a lot of confluence at the $285 area! Price will be hungry to test that area! Best of luck traders! Let's get this crypto!
Note
Possible price prediction:Note
Follow Cryptoguru now for more l33t crypto day trade setups!Note
Lesson learned! Don't get in the way of the ETH bullz! Posted some long setups after this and they achieved their targets for MASSIVE gains! Let's go ETH bullz!
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.