The case for ETH
Zaktualizowano
If you are new to reading my posts, please understand 2 things that I do:
1. I am good at looking at longer cycles, shorter-term movements are a pain for me.
2. I ladder most all of positions to some degree.
I am going to be buying up ETH and holding for the next few months. With ladders from here (my first entries were around 455) down to $300.
We know that if BTC is bearish(see recent BTC post), ETH is going to go down with it. No question. This is why I have a deep ladder just above $300. However, if BTC is bullish, it will also take ETH up with it. We will move up rather quickly.
If we look at the chart, it appears ETH is due for a rebound to the trendline just as BTC rebounded. In my mind, the question is just WHEN. Do we test 300 first? If it goes to $300, most likely RSI will be in oversold territory and still indicate a move up which will allow us to get out with profit one way or another. If we are going to get a rebound we can start laddering positions in to be prepared for the $250 point move to the upside. if BTC goes to 10k, ETH has the potential to go all the way to $800. For a move like that, I think it's worth entering.
Some indicators showing this:
1. ETH/BTC. check out this chart. It's a weekly chart, I am going to link the separate update when I can later.
2. RSI showing signs of divergence
3. MACD sloping up.
4. Volume profile shows we have a LOT of support above $300.
Happy Holding
-Sherem
1. I am good at looking at longer cycles, shorter-term movements are a pain for me.
2. I ladder most all of positions to some degree.
I am going to be buying up ETH and holding for the next few months. With ladders from here (my first entries were around 455) down to $300.
We know that if BTC is bearish(see recent BTC post), ETH is going to go down with it. No question. This is why I have a deep ladder just above $300. However, if BTC is bullish, it will also take ETH up with it. We will move up rather quickly.
If we look at the chart, it appears ETH is due for a rebound to the trendline just as BTC rebounded. In my mind, the question is just WHEN. Do we test 300 first? If it goes to $300, most likely RSI will be in oversold territory and still indicate a move up which will allow us to get out with profit one way or another. If we are going to get a rebound we can start laddering positions in to be prepared for the $250 point move to the upside. if BTC goes to 10k, ETH has the potential to go all the way to $800. For a move like that, I think it's worth entering.
Some indicators showing this:
1. ETH/BTC. check out this chart. It's a weekly chart, I am going to link the separate update when I can later.
2. RSI showing signs of divergence
3. MACD sloping up.
4. Volume profile shows we have a LOT of support above $300.
Happy Holding
-Sherem
Uwaga
and please remember to like my analysis if this helps! ThanksUwaga
The flows are starting to reverse. Once .057 is broken, we have a lot more upside in the cards. Same with the $420 ETH/USD.Uwaga
Some pretty hefty divergence showing on the daily here. Even if we push down further, we'll have an oversold RSI double bottom with divergence. Uwaga
little bit more of a thorough update - 
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