Eth relating pairs have had trouble getting out of their initial decline in value. seems like a good R/R trade. Can use tight stops and observe price action and news
even if the trade didnt work out... your horizontal lines show the resistance to support ;-) also fib levels looks good, 0.618 level has been declined. i think if it breaks we have a confirmed trend reversal.
criptoraily
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Sorry for the question but i'm in my learning phase...Do you think ETH will reach 0.0155 in the first week of September before price will rise up again ?
spacetrader
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No idea. I like to take profit at each big resistance level. wait until it passes it to open another position. It might not repeat the past. It moves really slow. It's possible most of the major sell offs were caused by a panic that might not happen this time. I've been simply going off the fact that it failed the go through that diagonal resistance trend showing increasing selling pressure over time. Have to be prepared for price to go either way. TA and stops are there to offset the odds of profit and mitigate losses in your favor.