ETHUSD: Bullish Butterfly at HOP with RSI and MACD Recovering
Previously I shorted ETH via puts on the Grayscale ETHE ETF seen here: 
But I will now be taking profit on those shorts and looking to long ETH back up to around the mid-top lines of the linear regression channel. I will be doing so off the back of a Bullish Butterfly that has developed on the daily paired with the waning of negative momentum in the MACD, RSI, and what appears to be the start of a decline in the ATR. I think this butterfly can carry us to the line of best fit around $3,400 but could very well extend out to the very top of the channel around $4,600; this movement would likely be in alignment with BTC pushing back towards the $80k-106k zones as I have speculated it will do here: 
From these Bullish Target Zones I will then look for signs to Take profit and short again from which I suspect both ETH and BTC will begin their path to making significantly lower multi-year lows.
From these Bullish Target Zones I will then look for signs to Take profit and short again from which I suspect both ETH and BTC will begin their path to making significantly lower multi-year lows.
Transaction en cours
Note
The bigger setup has been confirmed by the lower timeframe as seen in this new post below: 
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.