ETH reversal?

21 mar 2018

Longer term chart showing support at fib retracement line. MACD turning positive while showing bullish divergence suggesting a trend reversal. Stoch RSI turning upwards, RSI deeply oversold, turning upwards, and showing weak bullish divergence. On a shorter time scale, we see the formation of a descending triangle. At its culmination, we can expect to see either a breakout upwards and confirmation of reversal, or a breakdown to lower levels confirming more of a bearish flag/pennant formation. Longer term indicators suggesting greater weight towards a reversal, but BTC action can always throw a wrench into things.

22 mar 2018

Nota

looking like a breakdown of support, opened a short to hedge my small long

29 mar 2018

Trade chiuso: obiettivo raggiunto

closing short, watching for bounce to reopen long

3 apr 2018

Nota

re-entering long with small buys

4 mag 2018

Trade chiuso: obiettivo raggiunto

this was a long roundabout trade, but we are up nearly 40% from the bottom. also, check out the bounce and that wild shakeout landing right at that predicted fib line!!