I'm quite new to technical analysis, so please consider this more a try than some sign to invest big money. But I want to start a discussion: There are quite some people starting to treat ETH bearish now, but to me there are quite some indicators that it could turn again in the fibonacci 50-61.8% area, where there are also the trend line (as well as the old trend channel) and a support zone frome some days ago (which you can identify better in the 1H chart than the shown 4H).
Note
Well, that turned out bad. Seems like ETH got dragged with that drop of bitcoin...Next would be interesting to look at the fibo retracements of the long wave from point 2 to 3. (can not do this right now, cause I'm on my mobiles browser...)
Or is the ETH-USD chart still the wrong one to analyze ethereum and we have to look at the EtH-BTC instead, because it is still coupled too strongly?
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.
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.