Today for the bitcoin and Ethereum prices. This is the day we’ve been waiting for bitcoin and Ethereum are going completely crazy right now when people are asking me was this the bottom. Did we hit the bottom already is Ethereum? Finally, going back to the previous highest of two thousand three thousand US dollars and bitcoin going even higher.
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Well, let’s talk about that you have trades open on Ethereum right now. Wrecking in sixty percent and a profit twenty-three thousand us dollars bitcoin almost 300 000 US dollars in a profit for this multi-million us dollar trade right now. The question is when am I going to close the people already calling me crazy. We will talk about my game plan, my strategy and my trading plan right now in the immediate short term for bitcoin Ethereum to a new all-time high. If you want more of these videos in the future give me this feedback with a like you can give me the signal that you need more also about bitcoin, also about Ethereum, and altcoins as well. Let’s talk about what’s happening here and you can see that in the morning what a beautiful candle finally bitcoin breaking this resistant resistance. However, so number one on Monday that’s good right. I’m happy to not see this break out a Sunday on a Saturday.
However, we need the weekly candle, we need the daily kind of clothes. This is a daily chart and you can see it’s not so much volume coming in more than before because half of the day is only over so it’s gonna rise a little bit higher. But, honestly, the volume is not overwhelming yet. We don’t have a daily close outside yet. So, for me it’s not the moment yet to actually scale up this specific trade. Let me quickly go back here actually to this to-the-face mode.
I am going to scale my trade higher. It’s right now at 2 million US dollars in the bitcoin trade. I am going to skate a tire. But, I need the confirmation signals because I do not want to get caught up here in a fake out so this is everything about bitcoin right now. The price target for this breakout is 24 500 in fact we are seeing your potentially some structural changes coming but also not yet. If we are pulling this line here down. Then you can see some confluence coming together here from the last three months we were building resistance downward sloping resistance right here. The trend is our friend until the end so we are still in this downtrend. But, the moment bitcoin breaks on the daily also the 24 500 US dollars right here. We are basically breaking the daily trend and bitcoin is actually ready to go to price levels of 30 000 US dollars, 40 000 US dollars in above.
But, as long as this is not happening I want to tell you to hold your horses be excited a little bit about this pump. But, don’t be too excited right. I am in these trades, but I got a cheaper buying price I was actually updating you over on Twitter every single time. I was also recently posting here the current scenario with a pie cycle bottom indicator. I was posting everything when I was opening the trades um then daily updates in between so that’s why I really want to urge. You also the Ethereum now. We are getting very close to my price target of 1550 US dollars. Honestly, this one is always reached and that’s beautiful. But, it’s not a tradable pattern anymore.
But, what we can do is if we assume that this was a temporary bottom we can pull out the Fibonacci extension level and see where this could lead us. Well, the first price target would be the 38.2 at 2 400 us dollars, not a price target I would quote right now what I would wait for before we are getting here very bullish and throwing everything into one bucket and going on crazy trades. I know I’m in a crazy trade right now. But, I’m not gonna scale it higher for now before we are doing it. I wanna see very importantly the daily trend for bitcoin breaking twenty-four thousand five hundred on the daily cannas has to be broken. Then I’m gonna go out with tweet storms, I’m gonna go bullish like crazy. I’m gonna scale up my trades yes until this is not happening cautiously bullish staying in my trades waiting for the price targets. I just mentioned.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/uXgT2WPUGeo