ETHUSD Sideways Trading until ~Early March +Contingency Plan
If the Bottom really is in on the crypto market, then I think we're looking at relatively sideways trading off of the upper trendline (100SMA-SUNNY HAPPY YELLOW) for another 2-3 weeks, until we break out of this blasted downtrend channel (MOROSE SAD BLUE). Looks like a few of the other major alt players are already testing their respective channels, and if they break thru, may lead the charge to an overall upswing and accelerate this timeline.
However, If the action breaks and sustains under the first 100sma uptrend line then probably a fall to the backup trendline is in order (200SMA: 500ish).
My buy plan is 50% positions on bounces off the upper 100SMA line OR a 100% Position on touchdown to the 200SMA.
Disclaimer: As always, I'm a n00b ugly dumbass, who clearly is out of his depth, and will likely lose all his resources to the Smart Money. So trade at your own risk!
But goddamn, I'm having fun and learning lots, especially from @MagicPoopCannon. If you want to learn something actually useful, you should probably follow that dude...
However, If the action breaks and sustains under the first 100sma uptrend line then probably a fall to the backup trendline is in order (200SMA: 500ish).
My buy plan is 50% positions on bounces off the upper 100SMA line OR a 100% Position on touchdown to the 200SMA.
Disclaimer: As always, I'm a n00b ugly dumbass, who clearly is out of his depth, and will likely lose all his resources to the Smart Money. So trade at your own risk!
But goddamn, I'm having fun and learning lots, especially from @MagicPoopCannon. If you want to learn something actually useful, you should probably follow that dude...
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