#ethereum - BARR Targets reached, Daily
Good morning Friends,
the BARR Targets have been reached and we are sitting just below a trendline & key-level today and closing below this would likely push us further down.
Also on both charts ETH and BTC, we have left the Yearly Pivot area bearish. I do see some declining volume and seller exhaustion on Daily, so please start watching out now for VALID reversal signs, such as significant chart pattern
like Adam and Eves, Double Bottoms, Inverted Head & Shoulders, specific Candlestick pattern such as Engulfs, Haramis, Piercings and so on.
With the extremely sensitive, extreme, frightening and economically insecure situation on the globe, it will be very hard for each market to print consecutive
green numbers at the moment, this can take weeks / month, and the direct reactions to news and more news, more restrictions, more deaths, more economical damage
are not to oversee.
I am in FIAT since a while now and did catch a few shorts on ETH, BTC and also LTC.
I am staying away from trying to predict a potential bottom, I am following what the price development will tell me and when I probably will be able to
switch back to crypto as my base currency.
As usual I have marked the significant areas/key-levels for you to watch (& average prices).
To be honest with you I would like to hop back over $177 today. (Chances are rather low)
Happy trading.
Neru
(Please come back today, I will post a long-term Bitcoin chart as well.)
the BARR Targets have been reached and we are sitting just below a trendline & key-level today and closing below this would likely push us further down.
Also on both charts ETH and BTC, we have left the Yearly Pivot area bearish. I do see some declining volume and seller exhaustion on Daily, so please start watching out now for VALID reversal signs, such as significant chart pattern
like Adam and Eves, Double Bottoms, Inverted Head & Shoulders, specific Candlestick pattern such as Engulfs, Haramis, Piercings and so on.
With the extremely sensitive, extreme, frightening and economically insecure situation on the globe, it will be very hard for each market to print consecutive
green numbers at the moment, this can take weeks / month, and the direct reactions to news and more news, more restrictions, more deaths, more economical damage
are not to oversee.
I am in FIAT since a while now and did catch a few shorts on ETH, BTC and also LTC.
I am staying away from trying to predict a potential bottom, I am following what the price development will tell me and when I probably will be able to
switch back to crypto as my base currency.
As usual I have marked the significant areas/key-levels for you to watch (& average prices).
To be honest with you I would like to hop back over $177 today. (Chances are rather low)
Happy trading.
Neru
(Please come back today, I will post a long-term Bitcoin chart as well.)
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