Happy Money Monday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here’s a trading idea.
But firstly…
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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ETHEREUM reached the 84% Fib Level and hovering over it as of this writing.
What’s next for ETHEREUM?
A. Further dipping could bring ETHEREUM towards the Blue Horizontal Support Bar and $1,890 level (Green Dotted Horizontal Ray Line), level of KEY SUPPORT.
Breaking KEY SUPPORT is breaking Market Structure and further confirmation of a longer bear season.
The 100% Fib level sits at $1,700.
If ETHEREUM was to revert to its 200EMA, the price could dip towards the $1,350 all the way down towards the 1.136 Fib @ $1,269.
B. ETHEREUM could consolidate (move sideways).
C. The most unlikely scenario but nevertheless could still be a possibility is that ETHEREUM could do a U-Turn from here and go vertically to meet up with its 10EMA and possibly rendezvous at the Golden Pocket above at $2,808 $2,910
MACD: Signal lines are passing the 0 Level
Stoch RSI: Oversold Region.
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
