ETHUSD - Ethereum going lower
Updated
Hello Traders
I have two price targets for ETHUSD based on chart patterns and technical indicators.
According to chart patterns, we are making lower highs and our current support is not holding (closing candles ABOVE), therefore our next logical step is first halfway, and then the next support.
This correlates with what we see on the technical indicators. Feel free to unmute the BBands and you'll notice the orange price label to the right of the screen is around 1740.
I use the Wyckoffmode BBands and Phoenix ascending together to determine a possible price for the near term. If you want to know more about how I reach this specific price please check out my video analysis below.
Thank you and trade safe,
Evelyn
I have two price targets for ETHUSD based on chart patterns and technical indicators.
According to chart patterns, we are making lower highs and our current support is not holding (closing candles ABOVE), therefore our next logical step is first halfway, and then the next support.
This correlates with what we see on the technical indicators. Feel free to unmute the BBands and you'll notice the orange price label to the right of the screen is around 1740.
I use the Wyckoffmode BBands and Phoenix ascending together to determine a possible price for the near term. If you want to know more about how I reach this specific price please check out my video analysis below.
Thank you and trade safe,
Evelyn
Note
I see the published idea doesn't show the BBands, I will make a separate idea to indicate those price labels. If I added them in it becomes too cluttered. I usually in this order 1)Look at the chart 2)Look at technical indicators. If you overlap everything you might miss simple signs.Note
This idea is playing out, I will make an update on this chart soon.
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