ETHOS/BTC Falling Wedge
Hello Friends,
On this chart I have identified a falling wedge. This is bullish by nature yet like any TA the market could prove to do something different. So with that in mind we need to keep an eye on the support and resistance levels. If there is going to be a breakout on the upper resistance we can expect a retest of that resistance to become support as confirmation. That would be a good time to buy (on the bounce) along with stop loss just below the support line.
If BQX decides to retest the the lower support within the wedge then we need to keep an eye on which way it will go. If BQX hits lower support, expect resistance at the mid white line. Watch for a breakout and place your buys according to confirmations of direction of the market. Aggressive buyers would buy on the breaches of these support lines yet keep a tight stop loss just a little lower then there buys.
Is ETHOS finished or getting a second wind? Comments are appreciated.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
On this chart I have identified a falling wedge. This is bullish by nature yet like any TA the market could prove to do something different. So with that in mind we need to keep an eye on the support and resistance levels. If there is going to be a breakout on the upper resistance we can expect a retest of that resistance to become support as confirmation. That would be a good time to buy (on the bounce) along with stop loss just below the support line.
If BQX decides to retest the the lower support within the wedge then we need to keep an eye on which way it will go. If BQX hits lower support, expect resistance at the mid white line. Watch for a breakout and place your buys according to confirmations of direction of the market. Aggressive buyers would buy on the breaches of these support lines yet keep a tight stop loss just a little lower then there buys.
Is ETHOS finished or getting a second wind? Comments are appreciated.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
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