ETHUSD
Compared to other altcoins, ETH held relatively well the last weeks during the correction. Maybe due to the usage of the Ethereum platform by ICOs. Due do this fact, I expect Ethereum to also hold better for its correction of the first bull wave shown by the (1).
The first corrective wave hit exactly Fib 0.382. Some resistance at this level expected, for the RSI to correct aswell, before it will further correct which will provide buying opportunities.
Buy 1. 775 dollar (strong resistance expected by fib 0.5 and four previous resistance points in January and February)
Buy 2. 725 dollar
No trading advice, just my opinion. Happy trading!
The first corrective wave hit exactly Fib 0.382. Some resistance at this level expected, for the RSI to correct aswell, before it will further correct which will provide buying opportunities.
Buy 1. 775 dollar (strong resistance expected by fib 0.5 and four previous resistance points in January and February)
Buy 2. 725 dollar
No trading advice, just my opinion. Happy trading!
Trade active
Scenario could go two ways.1. people went enthusiastic on ETH and bought even before the 0.5 fib level (not to likely)
2. This is the B wave of the ABC in the correction of first bull wave. Which means we will go down once more in the upcoming days to test hte 0.5 fib and probably the 0.618 aswell.
Trade active
Both scenario's still in play. Hopefully the C wave will still come, that way we can add to our position and go long!
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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.