What’s up this week ?

We have had a glorious week, and we are entering a new one. Will it be the same euphoria ? Or will we be reminded that it can still go down ? Today we will look into what may happen next and what are the moves that we will put in place to get the most of it.

Current situation

9 consecutive days of up only on ETH without any big news (except maybe the first ETH1 <> ETH2 communication pre-alpha test).

ETHUSD on TradingView

RSI in overbought territory, MACD through the roof (on the 4h timeframe, we have not seen this kind of level since the beginning of the bullrun).

BTC showing less strength, nonetheless breaking each of his resistance 1 by 1. Volumes are lacking. It is currently following a trend line of 2%/day which is quite nice.

BTCUSD on TradingView

Those bull rallies like the one we are actually experiencing often last between 2 or 3 weeks before a big correction. At least this is what we have seen so far.

BTCUSD on TradingView
ETHUSD on TradingView

If we summarize: overbought territory, getting on the 2 weeks milestone that often saw some kind of correction after, and no big news to justify all that ? We have to be cautious.

Setting the stop loss

ETH has been rising fast and volumes are keeping up. I think that we will have a strong correction in the upcoming week if no strong news gets out.

I placed my stop loss @ 2973: if the bulls continue to believe to this trend, they will buy ETH @ 3000 before hitting my stop loss.

Regarding RAY, I’ve put my stop loss @ 14,6. This way, I secure a minimum 5% gain, and I’m low enough to avoid getting hunted by people wanting to get an entry under the trendline of the last 2 ATHs.

RAYUSD on TradingView

Good opportunities

Ok so we have secured what we currently had in our portfolio. But what about upcoming opportunities ?

I identified 4 coins that I think have a great potential for this month.

DOT

Not my favorite, but a strong contender for sure. The 38 resistance has been strong for 2 months now. If we get above, I have to get in at the retest before it can continue to 44, and maybe even 50+.

DOTUSDT on TradingView

KSM

KSM is looking strong. It is under the mean volume profile, it is getting above the 420 resistance and doing a retest, stoch RSI looking to get up and MACD not breaking the roof. Fundamentals are still here.

KSMUSDT on TradingView

I will go for this setup: Entry @ 415, SL @ 389 (6,3%), TP1 @ 480 (15,6%), TP2 @ 520, TP3 sur la redescente après TP2. Position to be defined, but not a big one.

ENJ

MACD daily ready to spit fire, RSI close to 50, great fundamentals, and a bit of a range with lowering volumes to allow for a massive spike.

ENJUSD on TradingView

Entry @ 2,63, SL @ 2,49 (5,6%), TP1 (low) @ 2,85 (8,3%), TP2 @ 3,22, TP3 @ 3,7.

AVA

Gotta hurry up on this one. Looking fresh.

AVAUSDT on TradingView

Everything looking nice. And that last spike in volume … perfect.

Entry @ X (anything really), SL @ 5 (6,5%), TP1 @ 5,8 (8%), TP2 @ 6,4, TP3 sur la redescente.

Since it already spiked, I think entering this trade would look too much like FOMO. So I will focus on ENJ and KSM, and this one will be useful for future reference (in case of being right or wrong).

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