{"id":9260,"date":"2021-10-15T11:57:00","date_gmt":"2021-10-15T15:57:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=9260"},"modified":"2022-04-06T15:03:35","modified_gmt":"2022-04-06T19:03:35","slug":"eth-breakout-oct-2021","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/eth-breakout-oct-2021\/","title":{"rendered":"Ethereum ($ETH) Breaks Out Above Resistance, as Bitcoin ($BTC) Nears its All-time High"},"content":{"rendered":"\n
\"\"<\/a><\/figure><\/div>\n\n\n\n

Bitcoin ($BTC) followed through on its recent breakout above the September highs, jumping approx. +10% higher over the past week. <\/h2>\n\n\n\n

As anticipated and shown in our previous post<\/a>, $BTC is now testing the $59,000 area of resistance.<\/p>\n\n\n\n

In the short-term, Bitcoin could easily see a few days of healthy consolidation around the current $59,000-$60,000 level.<\/p>\n\n\n\n

However, a swift surge to new all-time highs in the coming days would not be surprising, as $BTC is now less than 10% below its April 2021 record high (approx. $64,800).<\/p>\n\n\n\n

Unlike Bitcoin, Ethereum ($ETH) is still trading below is September high.<\/p>\n\n\n\n

However, $ETH started playing catch up by breaking out above the high of its recent consolidation and<\/em> prior swing highs (from mid-September) on October 14:<\/p>\n\n\n\n

\"\"<\/a>
Press image to view full-sized chart<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

As shown above, the next $ETH resistance level to watch is around the $4,000 level (early September highs).<\/p>\n\n\n\n

The recent breakout level above the $3,700 area should now act as support on a near-term pullback.<\/p>\n\n\n\n

The $ETH position in our Model Crypto Portfolio<\/a> is now showing a gain of +19%<\/strong> and the $BTC swing trade is currently +9% higher<\/strong> than our October 7 buy entry.<\/p>\n\n\n\n

We will continue holding both $BTC and $ETH to maximize profits–as long as the price action and volume patterns remain healthy.<\/p>\n\n\n\n

We will also trail our stop prices higher to lock in profits along the way–just in case of a sudden correction near resistance of the all-time highs.<\/p>\n\n\n\n

As always, we will immediately send a Crypto Trade Alert to Morpheus Crypto<\/a><\/strong> <\/em>subscribers if we take profits or raise the stops.<\/p>\n\n\n\n

Remember to trade what you see, not what you think!<\/em><\/p>\n\n\n\n

Deron Wagner, PhD (h.c.)
Founder @ Morpheus Trading Group
Co-founder @ MAST crypto fund

Follow Us<\/a> on Twitter.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin ($BTC) followed through on its recent breakout above the September highs, jumping approx. +10% higher over the past week. As anticipated and shown in our previous post, $BTC is now testing the $59,000 area of resistance. In the short-term, Bitcoin could easily see a few days of healthy consolidation around the current $59,000-$60,000 level. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[772],"tags":[],"class_list":["post-9260","post","type-post","status-publish","format-standard","hentry","category-crypto-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=9260"}],"version-history":[{"count":8,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9260\/revisions"}],"predecessor-version":[{"id":11114,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/9260\/revisions\/11114"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=9260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=9260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=9260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}