TomProTrader

ETH/USD - Buy Opportunity

BITFINEX:ETHUSD   Ethereum / Đô la
Hi traders, I hope you're all having a good weekend.

I just want to take a quick opportunity to say thank you for all your support likes and comments recently. We have been right on virtually every analysis posted on Tradingview, and I plan to keep this marathon             run going! Thanks for your support!

Here we have ETH/USD on the 4H chart.

ETH/USD appears to be in a corrective move. Price has recently been trading within a rangebound structure, between a horizontal support zone at 900 and a horizontal resistance zone at 1370.

Price is picking up momentum to the downside. Price had an initial low of 790 on 19th January, and since then there has been higher lows in the pair. It looks like the bullish momentum across the Cryptocurrency board (In my professional opinion) might legitimately be back.

I am expecting Ethereum             to continue with it's current momentum, and hit the horizontal resistance level which is our target, at 1380.

This trade could play out in 2 ways, I have outlined these below:

-Price continues it's strong momentum to the upside, and hits the upside target at 1370 in one strong swing move. Bare in mind if this does happen it is extremely likely that price will once again be going back into higher levels, and would show a significant change of investors sentiment in Cryptocurrency as a whole, and prices returning to their higher levels would be likely.
-Price retests the horizontal support zone at around 900 before the new move comes in. A retest of structure would make latecomers in this trade feel more assured and safe entering this trade.


Bare in mind, the first scenario above is preferred to the second. The first scenario indicates that there is momentum in the short term which is exactly what Cryptocurrency needs. It needs volume , volatility , and direct graphical sentiment.

If price retests the lower support, it will still bounce and go to the upside, but it is less likely. The first scenario above is the ideal one for Ethereum's best outcome.

I will updating this analysis if it receives more than 40 likes.
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I ask for an update sire.
+1 Phản hồi
I checked older predictions. Great accuracy. Thanks!
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Ether pushing it's boundaries.
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Been following, great post keep up the good work
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virtually everything correct??
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TomProTrader CharlesCoinCing
@CharlesCoinCing, Yes, virtually means most. Check yourself.

Not that it matters. But hey.
+1 Phản hồi
bedarija CharlesCoinCing
@CharlesCoinCing, long term everyone is correct. they are 50/50. either entering into trade too soon or exiting
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+1 Phản hồi
Weekly review of what happen in the world of Cryptocurrency. "#Bitcoin Struggles, @coincheckjp hack, @Davos bitcoin talk, @BrisbaneAirport accepting crypto + more.
https://youtu.be/S2fRCd5iJ80
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longterm I think we will still see 500 and them some consolidation between 500 and 1500 before we go to new highs.. until then I prefer to be exposed to eth/btc rather than eth/usd
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