ETHUSD : key insights
Updated
Hi guys,
Here I give you some key insights on the four-hour chart for ETHUSD.
After being in a bullish market, we are now in an undecisive phase and the next breakout would indicate the direction of the market for few weeks.
Thanks for reading,
Have a nice week
Here I give you some key insights on the four-hour chart for ETHUSD.
- ABCDE Elliot wave symmetrical triangle potential, if it would form, then we have a potential to rise to $800, but the highest support we could test is located at the 6th Fibonacci Up support (grey line) [$745];
- H&S is due to be formed, if it doesn't fail, we could exit the symmetrical triangle and test the middle Fibonacci support (red line) [$612];
After being in a bullish market, we are now in an undecisive phase and the next breakout would indicate the direction of the market for few weeks.
Thanks for reading,
Have a nice week
Note
H&S pattern rejected.
On the hpur-chart, we would test $667 Fibonacci middle support. If it breaks the target is $678 to retest the uptrend support.
That would be confirm if the Adam&Eve double bottom completes.
Note
We have not broken the uptrend support yet, but the A&E double bottom confirmed, we should recover $690 soon.
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