ETHUSD FALLING KNIFE - ARE WE BRAVE?
Updated
As per previous chart, ETHUSD follows the path. Count has been changed to reflect that RSI divergence has been erased so that we cannot see the cycle from 983.31 as a motive 5 waves anymore for now.
I remind here that I am bullish crypto because: 1. conviction but that does make a case for it, 2. bullish in daily and 3. too late to be bearish ... (remember that curve with 5 sentiments waves, we do not want to be buying high and selling low, right?)
So, this is when catching a falling knife come into play!
In daily, it is bullish and the first hop in was at 583.65, then 428.75. The bus will however stop at 100.00 (can always go/stay lower forever so we have to stop somewhere/sometime and 161.8% of lower degree is a good level to do that, see below).
Next level I will watch is 293.70-223.61 stop 110.16 (cf above).
Why? Come and check the 1h chart on the patreon and Discord server.
So, are you the "catching falling knife" or "I better stay away" ?
I remind here that I am bullish crypto because: 1. conviction but that does make a case for it, 2. bullish in daily and 3. too late to be bearish ... (remember that curve with 5 sentiments waves, we do not want to be buying high and selling low, right?)
So, this is when catching a falling knife come into play!
In daily, it is bullish and the first hop in was at 583.65, then 428.75. The bus will however stop at 100.00 (can always go/stay lower forever so we have to stop somewhere/sometime and 161.8% of lower degree is a good level to do that, see below).
Next level I will watch is 293.70-223.61 stop 110.16 (cf above).
Why? Come and check the 1h chart on the patreon and Discord server.
So, are you the "catching falling knife" or "I better stay away" ?
Note
follows the path as proposed to patrons in 1h chart (that follows the 4h chart here as well).Note
RSI trend line broken meaning end of a cycle from 983.31.I close the idea here as I highlighted the area where a bounce happened.
Will refer to other ideas in coming shared with patrons.
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