ETHUSD
From the Technical Perspective:
1. From the Monthly perspective, ETH was created a huge impulse to the upside without any proper retracement, we can expect a deeper retracement to at least 38.2 Fibonacci Retracement (represent as dot line, 1778.35 in chart), once the market become bearish market.
2. From the Weekly perspective, overall view is quite similar with the Monthly view, ETH already retested the neckline of the W pattern, a.k.a previous resistance turn support. But, ETH never create a proper retracement on the Weekly perspective, we can expect a retracement to at least 38.2 Fibonacci Retracement (represent as dot line, 2239.82 in chart), before the continuation to the upside.
3. From the Daily perspective, ETH was broke above the major resistance area (2512.95~2401.24), and create a W formation, we can expect a downside movement on the ETH to retest the neckline of the W.
4. Overall direction from the Multi-Timeframe Analysis: BEARISH
How to approach ETH/USD?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity and targeting the neckline of the W , if your rules of the strategy are fulfilled.
3. If the market will continue bearish, retesting on the weekly and monthly's 38.2 Fibonacci Retracement is expected (long-term view).
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on ETHUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, ETH was created a huge impulse to the upside without any proper retracement, we can expect a deeper retracement to at least 38.2 Fibonacci Retracement (represent as dot line, 1778.35 in chart), once the market become bearish market.
2. From the Weekly perspective, overall view is quite similar with the Monthly view, ETH already retested the neckline of the W pattern, a.k.a previous resistance turn support. But, ETH never create a proper retracement on the Weekly perspective, we can expect a retracement to at least 38.2 Fibonacci Retracement (represent as dot line, 2239.82 in chart), before the continuation to the upside.
3. From the Daily perspective, ETH was broke above the major resistance area (2512.95~2401.24), and create a W formation, we can expect a downside movement on the ETH to retest the neckline of the W.
4. Overall direction from the Multi-Timeframe Analysis: BEARISH
How to approach ETH/USD?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity and targeting the neckline of the W , if your rules of the strategy are fulfilled.
3. If the market will continue bearish, retesting on the weekly and monthly's 38.2 Fibonacci Retracement is expected (long-term view).
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on ETHUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
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