Hunting Ethereum’s Bottom

Are you tired of missing out on massive moves that could have sent your account up 10x? 

If you had the opportunity to catch these moves before they happen, would you grab it? 

Here at ProfitFarmers, we provide exclusive trading ideas to help you look for price reversal opportunities.

In the video above, Carlo goes through the trading tip we shared in our newsletter of June 17, 2022.

So for our lovely PRO members, here's a quick tip on catching the Ethereum bottom.

Remember when playing reversal opportunities, make sure to practice Risk Management (as with any trading plan) to avoid catching falling knives with no gloves on.

If you don’t want to watch the video, we’ve written down the key concepts below: 

Here’s the recipe to catching this ETH bottom:

We’ll only be using 2 indicators:

1. The RSI with a moving average (Daily)
   
   
2. The Supertrend 4.5 (Daily)
   
   Here’s what you need to do.
   
   We’ll use the RSI on the daily chart.
   
   1 - Set your RSI to length 15
   
   2 - Plot a SMA moving average on top of the RSI with length 15
   
   3 - When the average of Daily RSI for the last 15 days dips below 30 we are inching towards a bottom.
   
   However, that's not it yet...
   
   4 - Wait for the price to move above daily Supertrend 4.5 and ready your buy orders when the price comes back to daily Supertrend 4.5!
   
   

If you knew this you could have bought Ethereum around $100 before its epic journey began towards $4800.

Don’t rush to enter Ethereum until we see this pattern being in play again or start to see alternative clear signs of a bottom reversal.

Keep it simple!

Stay away from investing in any long term positions until the markets flashes a clear reversal signal.

Feel free to try and backtest this strategy on other coins, you might find hidden opportunities in the process!