If the RSI recovers some ground returning to levels above 50 in value. We could see a better bullish position on ETH. Although I personally expect ETH to touch 0.618 and go back down. Fulfilling my idea that this is a BearTrap. Being an ABC Pattern in the market.
The MACD for the first time in a long time touched negative levels. Which could mean that this fall really had quite a force. It is losing steam and trying to cross to get back up. But the worrying thing is the negative values in the indicator touched for the first time after a long time.
If I rely on FIb we have touched the psychological levels of 0.5%, for an upward attempt to take 0.618% again to perform an ABC. This is my position, even the market is very volatile and this could be invalidated if we end up exceeding the 0.382% retracement.
Tambien nos damos cuenta que hemos finalizado 8 velas bajistas e iniciado 2 velas alcistas, lo cual es una buena señal de un posible bullish de 6-8 velas alcistas.
Adding that most liquid cryptocurrencies are currently performing an inverted HS = HCH. Which would be interesting to see if you can get rid of the neckline. (Endurance).
Personally, I only hope to exceed 0.618% and close my position long with 2x Leverage. All the best.
The MACD for the first time in a long time touched negative levels. Which could mean that this fall really had quite a force. It is losing steam and trying to cross to get back up. But the worrying thing is the negative values in the indicator touched for the first time after a long time.
If I rely on FIb we have touched the psychological levels of 0.5%, for an upward attempt to take 0.618% again to perform an ABC. This is my position, even the market is very volatile and this could be invalidated if we end up exceeding the 0.382% retracement.
Tambien nos damos cuenta que hemos finalizado 8 velas bajistas e iniciado 2 velas alcistas, lo cual es una buena señal de un posible bullish de 6-8 velas alcistas.
Adding that most liquid cryptocurrencies are currently performing an inverted HS = HCH. Which would be interesting to see if you can get rid of the neckline. (Endurance).
Personally, I only hope to exceed 0.618% and close my position long with 2x Leverage. All the best.
Note
4h Charts, Overbought Indicators, Stop Profit and Let Run.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.