NOTE: Our ETHUSD indicator is confirming and still in play but XBT futures (chart shown below) show that close today is important as a solid up day with higher volume would pave the way for more upside (test of $7250 or more), and a reversal could lead to breaking $6450, $6000 and even a possible test of $5000.
The highest probability takeaways for the current set up are:
- Have VERY realistic expectations for any bullish moves — taking profits or trailing stops have to be the strongest approach for now based on the last 2 months of price action. When the time is right to be more aggressive, the market will show us
- Have VERY clear trading plans and don’t stay in trades if your stop ranges are hit — even though it’s possible we’re in “summer trading” you can still lose a LOT of money and get shaken out on a low volume move down to $5000 or lower.
Now more than ever STAY SAFE, and STAY IN THE GAME.
2 CHARTS — The Big 2 are representing the crypto market for now….
NOTE: Market moving very much in sync so trades can be developed for more altcoins with similar patterns. See prior posts for many set ups and/or write us at firstname.lastname@example.org with questions
Yesterday’s ETH post still in play — above $550 next target is $600 range which is strong resistance. Above that could see strong move higher to $750 range but let’s see $600 first — respect “character of current market”!
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