ETH short to the $1360 to $1215 area within the next few days to a week, if the current $1,570 support breaks.
Daily 15 EMA and Middle BB are showing $1,570
Fib retrace on daily at 0.786, showing at the $1,450 area and the middle of both of the KC and BB lower channel.
BB and KC lower bands and Fib retrace on daily at 1 collecting at the $1360 area.
BB and KC lower bands in range of ETH log curve green zone 2nd down band.
TTM Squeeze on daily showing down cycle is 5 days into.
MACD showing on daily showing down cycle is 6 days into.
SRSI on daily showing K (blue/fast) at 31 and D (red/slow) at 40. Clear separation between K and D in a downward direction is still present with plenty of room to drop.
Mixed TA on MA/TEMA showing bearish on daily.
Should the $1360 support break, I would expect a 20% - 27% drop from the weekly opening which would put it into the $1,215 area.
Should ETH follow 2018 Log Curve pattern a 27% drop from the weekly opening would repeat history allowing closing in the middle of the log curve green zone.
Enjoy!
Daily 15 EMA and Middle BB are showing $1,570
Fib retrace on daily at 0.786, showing at the $1,450 area and the middle of both of the KC and BB lower channel.
BB and KC lower bands and Fib retrace on daily at 1 collecting at the $1360 area.
BB and KC lower bands in range of ETH log curve green zone 2nd down band.
TTM Squeeze on daily showing down cycle is 5 days into.
MACD showing on daily showing down cycle is 6 days into.
SRSI on daily showing K (blue/fast) at 31 and D (red/slow) at 40. Clear separation between K and D in a downward direction is still present with plenty of room to drop.
Mixed TA on MA/TEMA showing bearish on daily.
Should the $1360 support break, I would expect a 20% - 27% drop from the weekly opening which would put it into the $1,215 area.
Should ETH follow 2018 Log Curve pattern a 27% drop from the weekly opening would repeat history allowing closing in the middle of the log curve green zone.
Enjoy!
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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.