in addition to my ETH/BTC chart i wanted to point out potentional buy and sell setups for ETH/EUR, which would work with other FIAT currencies also.
ETH/EUR is a better way to measure the real value ETH is gaining, which is quite hard in BTC terms due to its volatility.
The current buy zones in green are potenional non leveraged long positions. I use small margin positions to catch the smaller spreads, so that i dont need to sell my own ETH. I dont know if i would sell my ETH in the red zones, i´ll rather hedge it there and buy more using the short profits.
Nevertheless ETH/EUR is about to leave the 100% FIB speed resistance. We dont have a confirmation if it bottoms there yet, but if it does, we could see it reaching the next Levels.
The first red target is a great Pingpong Level if we see some Kind of bullflag in this area. Once we are there, i´ll post some shortterm setups
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tomorrow is Chinese New Year. The current structure looks very good.
I think we will go to the first red instead of the first green
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14 days of sideways so far.
6th of Feb. most People return from Chinese New Year vacation 15th of Feb. end of Chinese New Year.
Lets see what happens on those days
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bought the dip
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1,40€ profit
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we hit 12,80€ yesterday. First red circle. Second red circle is arround 15,80€
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the daily is a bullflag. Next FIB target is arround 14,00 €
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i go straight for the last FIB level arround 16 €
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we can go for the ATH. no need to sell here
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we hit the ATH. banked all margins profits. I expect we will have a pullback from here so lets buy on dips
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this is just the beginning guys wait for it
target 23,40€ - like indicating by the last red circle
buy the dips
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If you check the current charts with the past, we can see volatility decreased big time. This uptrend is less shaky which is a good sign that price could get fortified at the 18€ Level. What we could see in the next few weeks is either a sideways consolidation or a bullflag forming with a price that should not go below 16,50€ area. That said we should look for buying Dips and wait for the Rally to continue to 23,40€ or above
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BTC downside move caused ETH to fall a bit, so we need to adjust our entrys.
We should look for buying between 14 - 15,50 € and add to our positions gradually
Important keylines are the 0.0143 and 0.0133 BTC supports. Check both charts to find your entry.
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so, we went completly nutz. will need a new chart now
when we can expect new chart ? :)