I would like to offer an idea about ETHBTC. Although it showed a nice bottom formation with its last breakout move, I think it is at a very critical point with the horizontal movement and downward break that followed. If you look at the ETH chart (
) , you can see that it corrected almost 60% of its sharp rise and gave a nice test to the red box and went up. It is currently trying to stay within its old range. ETHBTC, on the other hand, is making a downward move. It would not be wrong to say that it has evolved into an structure as if it made a downward retest, despite having made a similar move.
I have 3 plans for this process:
Plan 1: The price retesting the 0.026 levels after entering the old range and throwing it above this area with a slow and small pullback. I will consider the last downward move as manipulation and take a position accordingly.
Plan 2: Defining its last move as a retest to the range it broke down, continuing its decline and first coming back to the 0.019 levels. Maybe a decline to the green box zone below after the reaction there.
Plan 3: After making the rise in plan 1, testing the 0.021 levels for the last time by pulling back more and starting a rapid rise from there. Frankly, although it is a bit difficult, such a move seems good to me since seeing sharp movements and volume in the bottom formation will increase the opinion that the rate is the bottom.
This is the roadmap I will follow in general. I think these movements can be until the first week of July. I hope that the next 10 days will give a good idea of how we will spend the summer months. It should not move horizontally in these areas anymore and I don't think it will. I don't care about drawing both up and down and then saying "aha" and being right. If my goal is not to make money, being right is useless. If there is a movement that is suitable for one of the movements I draw, I want to take a position and turn it into reality.
Good day everyone.
I have 3 plans for this process:
Plan 1: The price retesting the 0.026 levels after entering the old range and throwing it above this area with a slow and small pullback. I will consider the last downward move as manipulation and take a position accordingly.
Plan 2: Defining its last move as a retest to the range it broke down, continuing its decline and first coming back to the 0.019 levels. Maybe a decline to the green box zone below after the reaction there.
Plan 3: After making the rise in plan 1, testing the 0.021 levels for the last time by pulling back more and starting a rapid rise from there. Frankly, although it is a bit difficult, such a move seems good to me since seeing sharp movements and volume in the bottom formation will increase the opinion that the rate is the bottom.
This is the roadmap I will follow in general. I think these movements can be until the first week of July. I hope that the next 10 days will give a good idea of how we will spend the summer months. It should not move horizontally in these areas anymore and I don't think it will. I don't care about drawing both up and down and then saying "aha" and being right. If my goal is not to make money, being right is useless. If there is a movement that is suitable for one of the movements I draw, I want to take a position and turn it into reality.
Good day everyone.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.