Ethereum Reversal Levels

POLONIEX:ETHUSDT   Ethereum / Tether USD
The market dropped to the uptrend line 1 and this line now is very important. We have to watch for price action near this line. If the market bounces from the uptrend line 1and moves up, it will be the 1st confirmation for possible trend reversal. The resistance level 200.00 and the downtrend line will be barriers for following upward movement. If the market can break them, we'll have the 2nd confirmation that the market is going to rise. And the 3d confirmation for the upward movement and the trend reversal there will be a breakout of the local swing high. If price moves above 227.00 level, we'll have long opportunity. Also, there is another variant which we must consider in our trading. If price breaks the uptrend line 1, probably we'll see downward movement to the uptrend line 2. This support line will be able to stop and reverse the market. But for confirmation trend reversal we'll need a new breakout of the downtrend line. Only after that we'll have to think about opening long trades. I also would like to remind you that trading on crypto exchanges allows making profit only in long trades. That's why in my posts I focus on long opportunities and entry levels for buying.
Bình luận: The market broke the uptrend line. Watch for price action near the uptrend line 2.
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Looks like it bounces at 143.. would you say that that counts as an approximation of the 2nd trend line? Ty.
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Testing uptrend line 1. If it breaks up, the price will continue to rise. Or it might bounce here and possibly fall. Correct?
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Wave has bottomed at 135 and now target is uptrend line 1 at 187ish in a few days. That will present the next good shorting opportunity, and this time, I think we may fall to 100-105. Ultimately, I think we are falling to 50 by end of year.
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@DLavrov, its reaching the uptrendline1. What will happen if it breaks this uptrendline1. What will be the next support line? Im thinking that alot of bitcoin sellers will move into Ether, any thoughts on that!
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Honest advise: Bubble is real, SELL to get some cash for your crypto since it still has some value. This is a non regulated market meaning that all big whale shorting moves are allowed. Big billionaires are using automated algorithms softwares to trade and they will always win! Don't throw your money away!! WAIT for some concrete regulations to take place before you reinvest in crypto! Share if you care
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Thank you, DLavrov for sharing. Many blessings
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how about $85
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DLavrov AlexCombo
@AlexCombo, for this the market has to break the uptrend line 2 and 100 support level.
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The markets bounced back up from uptrend line 2. Now for trend reversal confirmation, we need for the market to surpass $175 (downtrend line) with good volumes. Is that an accurate reading on my part?
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CoinRat ankit.shah2
@ankit.shah2, that is how I am interpreting it. It is very clear where it broke uptrend line 1. However, it is nowhere near line 2 so I would not really say it bounced off of it, personally. But does it really need to? I don't know. If it goes up from here with volume and breaks up through uptrend line 1, I guess we're in business?
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