Hi Traders,
I have taken a fib from the new swing high to low, and targeting the first 23.6 level coming in around the $6.00 mark. This is also a key structure resistance level, which was the old base from the 2017 rally. To add to bullish picture - the 200 week moving average has just started to take form, which is also sitting pretty at $6.25. Lastly, the weekly RSI looking primed to break out above the KEY 50% bear control mark, targeting overbought.
I think an entry below $2.50 will be pretty good, but you must be willing to risk at least 20% downside. Take Profit ~~ $6.00. Expected trade duration: 6-8 weeks.
Risk it for the biscuit baby,
GL hit thumbs up
I have taken a fib from the new swing high to low, and targeting the first 23.6 level coming in around the $6.00 mark. This is also a key structure resistance level, which was the old base from the 2017 rally. To add to bullish picture - the 200 week moving average has just started to take form, which is also sitting pretty at $6.25. Lastly, the weekly RSI looking primed to break out above the KEY 50% bear control mark, targeting overbought.
I think an entry below $2.50 will be pretty good, but you must be willing to risk at least 20% downside. Take Profit ~~ $6.00. Expected trade duration: 6-8 weeks.
Risk it for the biscuit baby,
GL hit thumbs up
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Expecting similar structure as ethereum
