ETH $1400,- target! Finally ready for the bounce?

Risk: Medium/High

Please be advised that this is only an idea, so you are responsible for any losses yourself.

Dear followers,

I hope you have been able to avoid big losses by following my ideas and on Twitter and here. This was more than a correction. This was a crash! Most coins do not look good for the short term. In my opinion Ethereum is the first coin that is ready for recovery. We needed to see a correction like this to gain power to reach higher levels again. Nothing goes up in a straight line.

 After we broke our strong support, (A) we immediately saw a crash. This happened with almost all coins yesterday.

Ethereum has tested his strong support twice, blue support line (1). We also find our fibonacci level here. 0.618. This is also a strong support normally. Because the other big currencies look worse for the short term, I advise you to always use a stop loss. A close below the blue support line towards our 50ma (yellow line) and the dotted line.

I've more information for this chart but I'm very busy at the moment, so I don't have time to type it. But I had to share this idea with you. I'll update it later.

Targets:
Target 1: 1034
Target 2: 1210
Target 3: 1389

Good luck!

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Questions? Feel free to ask and your feedback is welcome!

Kommentera:

We need a close above the blue support line today, to look for higer levels.

Trade stängt: Stopp nått:

The bears are strong, the volume increased, but I saw a buy a disapear like snow before the sun $600,- is likely now.

Kommentera:

I meant a buy order of 2 million dollars.

Handel aktiv:

I reopen this trade. Volume is increasing and this time we see green candles besides that we received two buy signals on the hourly chart. (RSI & macd)

Kommentera:

If this happens we are ready for the bounce :-)

Handel aktiv:

2 confirmations! Let's do this!

Handel aktiv:

Alright, we are going up again. :) We don't have real resistances on our way up. 20ma could be a resistance and next real resistance is the dotted line (2)

We need a close above the support line (1) to continue our uptrend after the correction (crash). We are currently trading above support.

Trade stängt: målet nått:

First target reached. I'll keep updating this chart for our next targets.

Handel aktiv:

Our channel for coming hours

Handel aktiv:

Next resistance to break.

Handel aktiv:

Ethereum is te strongest coin in the top 5 today. We tested resistance (2) but it failed to break. We need a close above support line (1) to continue our uptrend towards $1400,-

Handel aktiv:

We still need a close above support (1) every day. Hourly we just beated the 50ma, a strong resistance and support level during last week. This could be a new support level for the short term.

A test of resistance (2) is possible today. If this doens't happen I expect a break within 3 days. Were (1) and (2) crosses.

Handel aktiv:

We just broke an important resistance level again. Furthermore a new support level is formed.

Kommentera:

Target 2: Reached :)

I took some profit, but I have still a large position in ETH.

Hourly, we see some oversold conditions. So a quick pullback towards the dotted lines is possible. If this doesn't happen next hour. We will find some resistance around 1294.

For the longer term, macd already gives us a buy signal. This is a good signal to reach our final target.

Trade stängt: målet nått:

I'll keep updating this chart for the final target. See the comment above for coming hours.