Almost ready to get back to 2500!
This morning, in both my articles and videos, I said to go long at 2440. We’re about to capture another 60 points—you could say 2500 is basically very difficult to defend.
Why was I confident enough to go long yesterday at 2441, and today at 2445, and in between I also did a T from 2470-80? This is because rebounds from the bottom of a range are often very fierce. Also, the hourly chart has a double bottom. On top of that, during the slow grind higher, the volume shows a contraction structure. This is a strong bullish signal. Often, when these technical patterns resonate, the accuracy is very high.
If today we can get up to around 2540, I’ll consider opening a short. #ETH
This morning, in both my articles and videos, I said to go long at 2440. We’re about to capture another 60 points—you could say 2500 is basically very difficult to defend.
Why was I confident enough to go long yesterday at 2441, and today at 2445, and in between I also did a T from 2470-80? This is because rebounds from the bottom of a range are often very fierce. Also, the hourly chart has a double bottom. On top of that, during the slow grind higher, the volume shows a contraction structure. This is a strong bullish signal. Often, when these technical patterns resonate, the accuracy is very high.
If today we can get up to around 2540, I’ll consider opening a short. #ETH
