Ethereum is, imho, the play of the day. We have finally gotten a likely close on the long-term daily chart on the sunny side of the 3rd arc. This is not trivial. To wit:
This fascinating ability of markets to SIMULTANEOUSLY fulfill precise geometric considerations at multiple time-frames, ie, it’s fractal nature, is “wheels within wheels”.
Lets take a look at yet another setup on the same chart. A short-term bull setup:
In my humble opinion, ethereum is now a tremendous buy. On a daily chart of course, because all of our charts here were on the daily chart. I am often loathe to issue public buy/sell opinions, but in this case I will make an exception. I believe we have multiple buy signals for ethereum on the daily chart. I for one will go long here, with a slightly loose stop, with the expectation of holding the position for several weeks.
There will of course be minor intraday sell-offs, but I believe it is highly likely that by the end of the year ethereum will be significantly higher than it is today.
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.
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Last modified: June 10, 2020 2:47 PM UTC