I have had my eyes on ETH/USD, as it was climbing inside the rising wedge shown above. Well... It finally popped! Bearish mode is now enabled.
Bearish trend will not last long, therefore, I did not short. & I dont recommend my followers to short either. In my opinion, the better opportunity here is to wait for the Long.
Let me tell you, Patience is a virtue. Especially with trading. These levels look enticing, I know. But do not rush a long entry just yet. Wait for full retrace to play out.
I expected a further drop into the potential buy zone entry 1 starting at just around 179-173 roughly. Im looking for a bounce off the 50 & 100 MA as they inch upon crossing, this is KEY!! This would be a perfect point for a nice reversal wick to push a turbo long on.
I did NOT include a direct signal on this post just *YET*, But I did want to show my 5 loyal followers what I am eyeing currently. These are important levels, and money will be made when the time is right. I WILL UPDATE DIRECT SIGNAL WHEN THE AREAS ARE HIT AND I AM READY TO TURBO LONG :D
The final support I have shown, which I do not think is very likely, is the triple bottom situation. This would mean a full blown retrace down to the green support zone shown. Doubtful, but as a strong trader, its good for us to note these areas.
STAY TUNED. WILL UPDATE WHEN TO TURBO LONG THIS MF!!