Ahoy Steemers!
Overnight Ethereum broke out to the upside of its falling wedge pattern against BTC. This is extremely bullish and has the potential to retrace the entire wedge back to 0.021 ETH/BTC or $12.5USD/ETH.
This move higher was further confirmed after the close, with the Ultimate Oscillator, Chande Momentum Oscillator and Williams%R all moving higher and the Stochastic Crossing. Although ETH/USD has already moved 6% since the low there is still huge potential for profit with an extremely likely chance that ETH/USD will reach the target between $12.00 - $12.50 USD within the next week. For a gain from its current price of $11.2 USD between 7 - 11%.
Thanks to the excellent predictability and volatility of ETH this trade is the easiest 7-11% percent you will ever make. And the profit can be much larger if your exchange allows leverage! I really hope as many people as possible can see this so that everyone can make some easy money on this simple trade. Remember nothing moves in a straight line, the price has the potential to fluctuate up to 3% away from the trend on any given day. Don't be worried if the price doesn't move up every single day, I expect this move higher to take up to a week to reach the target. I plan on posting more of these technical analysis for all types of different cryptos in the future, so be sure to follow me!
Please let me know how this trade turns out for you in the comments! I will also try to keep you all up to date with my own comments as the price moves.
It would be great if you could also donate a tiny portion of the profits back to one of my addresses if you can afford it!
BTC: 1BdB2CvsLPmdk8wJyJMNN3y8CWBD68rCtH
ETH: 0xD0036d573a54B560AdE3bd0C618B4FCC18FDDf18
Don't know how to get started trading?
I recommend using Kraken, a crypto exchange that trades many different pairs of cryptos and fiat currencies. You can deposit with BTC and ETH as well as many other cryptos and also fiat. The fees are small and they allow some leverage. You only need to provide your name, DOB, country of residence and phone number to get started, no documents required. I have no affiliation with Kraken it is simply the exchange that I use myself.
Disclaimer
I am not responsible for any winnings nor losses that are the result of the information displayed in this post. All information derives from a my personal understanding and should not be considered as direct financial advice. Remember markets are risky and you should be aware of the potential risks that you may face when investing.
Happy Trading!