Long

ETH/USD Market overview, 30% profit potential.

Updated

Hello. I see strong impulse on Ethereum while breaking SMA 100 it did significant step against short set up on 25.04.
I expect this to follow yellow channel edges and start to breaking in any direction as target is close.
Entry: 752-757 (explained at 1hr chart)

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If You missed entry there is no place for worries! There is an opportunity to swing and start adding Ethereum to Your pocket! Price trapped itself into death corner, correction is inevitable.
1hr chart

Note

Now, I have better view on the market after that many candles painted on board. I can specify good entry levels shown below on 1 hr chart:

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Market seems refusing bigger price drops what leads to massive short squeeze. This could be bottom floor.
1 hr chart

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Entry at 763 and 756

Note

Although price broke down from yellow channel, there is very high possibility for recover. High volume shows massive seloff that could flip the coin back on track. Stop described on 4hr chart:

Note

1hr chart

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Fake breakdown, there will be battle for atleast double bottom (double bottom line - continuous white horizontal). Huge buying wicks suggest panic fear, but volume confirms indecision which is bullish in this phase. Big seloff from 25.04 is a very strong price border.
4hr chart

Trade active

After that tough correction there is high possibility for bright recover. Everything is on good way to bring back the price to green levels. Yellow channel has been forced so many times it could distract traders, however We keep our thesis still alive that recent selloffs were so massive and We could use this information to start accumulating real buisness.
1D chart

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View updated, ascending bullish triangle pattern appears on the horizon.
1hr chart

Trade closed: stop reached

Yellow channel broken, triangle pattern broken, There is need for reassess.

pinfkloyd

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