As we can we can see on the graph,
Ethereum now forming double bottom pattern on the 4 hours chart.
Even though now crypto investor are afraid due to the China's crackdown on cryptocurrency, I am still strongly believe market are going to recover.
All I can say that this recent pullback are normal for me, market needs to recover from previous spike, market needs to take a rest and it is impossible for it to keep pushing pushing and pushing.
Don't be panic because of the news, be smart and analyse the accuracy of news ( Don't get scare by all the HEADLINES!!!!!) , trust in your Technical Analysis, have faith in your research.
Nonetheless,
OUR SET UP HERE;
1) Wait for clear indication of double bottom form,
2) Wait for the neckline of double bottom been broken,
3) Our entry will be when the market comes down for neckline retest.
4) Aim for 3500, Of course cut your position when you should be :).
4) Let the market do its things.
Another point is that this recent pullback already reaches 0.618 of previous spike from 1800 to 3900 + a double bottom as confirmation.
Double bottom neckline resistance are also previous support, once its been broken retest will be strong. (+ point for our trade)
All the best,
bb2thetrader
Ethereum now forming double bottom pattern on the 4 hours chart.
Even though now crypto investor are afraid due to the China's crackdown on cryptocurrency, I am still strongly believe market are going to recover.
All I can say that this recent pullback are normal for me, market needs to recover from previous spike, market needs to take a rest and it is impossible for it to keep pushing pushing and pushing.
Don't be panic because of the news, be smart and analyse the accuracy of news ( Don't get scare by all the HEADLINES!!!!!) , trust in your Technical Analysis, have faith in your research.
Nonetheless,
OUR SET UP HERE;
1) Wait for clear indication of double bottom form,
2) Wait for the neckline of double bottom been broken,
3) Our entry will be when the market comes down for neckline retest.
4) Aim for 3500, Of course cut your position when you should be :).
4) Let the market do its things.
Another point is that this recent pullback already reaches 0.618 of previous spike from 1800 to 3900 + a double bottom as confirmation.
Double bottom neckline resistance are also previous support, once its been broken retest will be strong. (+ point for our trade)
All the best,
bb2thetrader
either one of them can be traded as well,
pick your army!!