Ethereum On The Weekly | Tips To Make Money Trading!I was looking at Ethereum (ETHUSDT) daily and was having a hard time deciding which way to go, what to look for, what is happening now and what is likely to happen next.
I set the timeframe to weekly (W) and multiple signals showed up right away.
Ethereum Chart Analysis by Alan Santana
Looking at this chart, ETHUSDT has been correcting since November.
Prices have been dropping since.
This week ETHUSDT goes below EMA10 for the first time since September where it lasted only a few days.
Before prices would always trade above EMA10 since July.
Going below EMA10 would definitely favor the bears but here is the thing... Closing below it now can signal multiple months or more of bear market, there is so much room for lower.
Now, above EMA10 or $4070 the short-term bullish potential is reignited; Currently, the bears (red) are in control.
Ethereum vs Tether (ETHUSD) Additional Chart Signals
We have a bearish cross on the MACD. Full blown.
We have bearish divergence with the MACD and RSI, very strong as well. This divergence has been present since May.
MACD histogram is going red while the RSI is trending lower.
I sold around mid-Nov...
I am wondering if I sold enough?
Anyways, I am ready for multiple months...
When prices go really low, we call it a "buyers" market and that's when the time comes to load up.
The market moves in cycles, it just goes up and down, up and down, down and up...
To be successful in this game plan long-term.
Never consider a drop in your capital as a loss.
You only lose if you sell below your buy price.
Don't need to consider an increase in your capital as a win.
You only win if you sell above your buy price...
You see how that works?
The markets will always fluctuate...
It will be always going up and down, down and up.
Being successful or not will depend on your trading plan, your strategy and mainly your goals.
If your goal is to generate just a few $ks per month with a good capital, you don't need to trade much.
If you are trying to get rich quick, make money fast, then you are very likely to end up losing it all.
If you can make money fast;
You can make money slow.
If you cannot make money in 10 years or 5 years, you won't be able to make it in 3 days or 3 weeks.
So, try and see how much money you can make in 1 year (maybe 3 months) trading and if you are successful you can try and make money faster but keep in mind that most people will end up losing if they are trading without a plan, in the long-run.
Instead of focusing on quick/fast money, focus on sound, well thoughtout, planned, long-term, long-lasting, stable, beautiful money.
:D
Thanks a lot for your support.
Namaste.
