LISTEN! An Ethereum Trade You Should Have Made Yesterday

Ethereum has been up-trending nicely and we have officially broken out of every downtrend from 800 highs. So this leads me to believe we will continue to have a bullish month until we hit our next big downtrend line near 520-530. We will not guarantee this bullish month but we will always update levels to ensure our prediction stays intact.


So diving into the H4 chart we notice we had BEAR divergence as RSI gave a double top while price made an HH. What I’m looking at right now to ensure a bullish month to stay intact is for ETH to sustain a swing low of 455-460 while STOCH gets a full reset under the red. A hold of the black trend line is also important to me and breaking under with volume will have me questioning the strength of swing low support.
What this means for me in the MED term is this, ETH must sustain both swing low and black up-trend to minimize risk in longs. Breaching the trendline will have me watching for the retest to short (low volume pump) the trend line or break back over to long (high volume pump). You can also set a pre-set entry above swing high to have the least amount of risk if wanting to go long.
For short-term scalpers and day traders, we could see the SHORT term view play a little different. To me I notice a 5 wave move downward which is always accompanied by a 3 wave move in the opposite direction. So we can possibly see a short-term SHORT at play when the test of new downward line or fib retracement of .5-.68 near red box. Target will be .78-1 extension of previous move or touch of trend-line again. If Ethereum is able to match previous swing highs price then our short play will go out the window.