ETH is currently inside a Daily Wedge, which would have big upside potential once we break the $300 horizontal resistance.
The Daily Wedge shows itself as a nice descending pattern on the 4H, if we look at the significant Highs & Lows. We're much more coming the bottom rather to the upside.
Conclusion: ETH sits at the previous S&R zone of $270. If grandpa BTC breaks higher, ETH will follow suit: In this case ETH will have a 20% profit potential up to $360.
If on the other hand 270 doesn't hold, we can break to the bottom of the S&R zone at $220.
In the direct correlation ETH/BTC, the bulls are still keeping huge and important support, the break of which would mean severe loss towards grandpa BTC:
Do you have a trading plan with sheets, or are you trading from your head? Do you revenge trade, trying to make the money you lost back immediately, taking huge risk, losing even more? Are you already making gains over the long-term, like a casino, or are you still losing huge amounts, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. Psychology is half the rent in trading, if you don't take it seriously, you will crush your account. I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
The Daily Wedge shows itself as a nice descending pattern on the 4H, if we look at the significant Highs & Lows. We're much more coming the bottom rather to the upside.
Conclusion: ETH sits at the previous S&R zone of $270. If grandpa BTC breaks higher, ETH will follow suit: In this case ETH will have a 20% profit potential up to $360.
If on the other hand 270 doesn't hold, we can break to the bottom of the S&R zone at $220.
In the direct correlation ETH/BTC, the bulls are still keeping huge and important support, the break of which would mean severe loss towards grandpa BTC:
Do you have a trading plan with sheets, or are you trading from your head? Do you revenge trade, trying to make the money you lost back immediately, taking huge risk, losing even more? Are you already making gains over the long-term, like a casino, or are you still losing huge amounts, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. Psychology is half the rent in trading, if you don't take it seriously, you will crush your account. I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
