Ethereume WHY buy THE FEAR NOW ($200 ETHUSDT Long)
Hello new friend, I know you are a very busy trader and that is why today I will be brief in my analysis of Ethereum.
Ethereum is full of potentials in 2020, To show you why buying the fear strategy doesn’t work with ETH/USDT because it works, I will be using a TRADER VIC'S Top/Bottom reversal strategy called 2B pattern strategy also popularly known as “SPRING” by Victor Sperandeo combined with key indicators like Relative Strength index(RSI) and Chart Patterns, this chart analysis will help you identify 3 basic things.
Common questions
What direction will the BREAKOUT BE from the current consolidation
Is ETH currently Bullish or Bearish
Trade Entry Point, Stop Loss and Target
The Trader Vic’s 2B pattern is a powerful Top/Bottom reversal techniques. In an uptrend, if prices penetrates the previous high but fails to carry through and immediately drops below the previous high, the trend is likely to reverse(this is also true for Downtrends)
Using 2B Pattern
The above chart illustrates 2B “bearish” reversals on the 1hr Chart (20 March 2020)
key Take away when applying this strategy, In a bullish setup
* Decent Retracement
*Another bar close below Bar 1 low
*Mark High of Bar 3. Wait for close above 4
*Long above the High of 4
1HR CHART
The above chart shows Trader Vic’s "Bullish” Pattern from ETHUSDT 1hr Chart. ETH/USDT made a new low
Observations and Trade setup
New low at 174.85
Decent Retracement at 180.64
Another bar close below Bar 1 low 171.84
Mark High of Bar 3, Wait the high of close above 4
long above the high of 4
Target previous swing highs
RSI ANALYSIS (1hr chart)
A FAILURE SWING BOTTOM
The RSI on the above chart shows ETHUSDT that
RSI crossed ito the oversold territory (Below 30% on 20 April 2020)
RSI also crossed back above 30%
on the 21 April 2020, RSi formed another dip without crossing back into the oversold zone
RSI on the same 21 April breaks its most recent high signaling bullish
Thank you reading, Don't for get to like and comment your opinion .
Ethereum is full of potentials in 2020, To show you why buying the fear strategy doesn’t work with ETH/USDT because it works, I will be using a TRADER VIC'S Top/Bottom reversal strategy called 2B pattern strategy also popularly known as “SPRING” by Victor Sperandeo combined with key indicators like Relative Strength index(RSI) and Chart Patterns, this chart analysis will help you identify 3 basic things.
Common questions
What direction will the BREAKOUT BE from the current consolidation
Is ETH currently Bullish or Bearish
Trade Entry Point, Stop Loss and Target
The Trader Vic’s 2B pattern is a powerful Top/Bottom reversal techniques. In an uptrend, if prices penetrates the previous high but fails to carry through and immediately drops below the previous high, the trend is likely to reverse(this is also true for Downtrends)
Using 2B Pattern
key Take away when applying this strategy, In a bullish setup
* Decent Retracement
*Another bar close below Bar 1 low
*Mark High of Bar 3. Wait for close above 4
*Long above the High of 4
1HR CHART
Observations and Trade setup
New low at 174.85
Decent Retracement at 180.64
Another bar close below Bar 1 low 171.84
Mark High of Bar 3, Wait the high of close above 4
long above the high of 4
Target previous swing highs
RSI ANALYSIS (1hr chart)
A FAILURE SWING BOTTOM
RSI crossed ito the oversold territory (Below 30% on 20 April 2020)
RSI also crossed back above 30%
on the 21 April 2020, RSi formed another dip without crossing back into the oversold zone
RSI on the same 21 April breaks its most recent high signaling bullish
Thank you reading, Don't for get to like and comment your opinion .
Trade closed: target reached:
1ST TA 190 = SUCCESSS
2ND TA 200 = SUCCESS
2ND TA 200 = SUCCESS
