https://abacusjournal.com/wp-content/uploads/Vitalik-BUterin-ethereum-creator.jpg 500 800 Andrew Parish /wp-content/uploads/logo-header.png Andrew Parish2018-08-07 13:16:082018-08-08 08:15:00Ethereum Scalpers May Get A Shot To 'Hit The Bid' Over The Next 24 Hours!
Ethereum has consolidated within a tight range and we are nearing a breaking point. It has been a fun few trading days for day traders but swing traders may finally get a chance at some action too.
Diving into the H4 chart we notice we have formed a BEARISH DIV, this can also be seen on a few other high time frame charts. With the H4 STOCH running into some trouble and with my original W1 target of mid-upper 300’s this seems like a very likely scenario. A break above 415 will eliminate this call and we can look to flip positions on a high time frame close above this pivot point. Targets are shown with a long idea as well. Upon arrival of our targets, we will look for confirmation of bullish divergence to enter positions. A secondary shelf of support is shown but would worry me dropping that low as it will breach a very important trendline.
Remember to always use stop-loss protection and practice good risk management.