Hello! Fast update here.
Sadly, ETH never reached my target of 200$ before bears decided to step in and fiercly so.
We got cut short at 170$.
No matter where the market goes from here, i still argue that long term wise - this is a good place to average in.
If you're trading this market i would look for a bounce this current area or 100$. but tread with caution.
I think we have a lot of sideways action a head of us once we reach new lows.
One scenario that can change the current movement is a break above the trendline that has rejected us several times thus far.
Sadly, ETH never reached my target of 200$ before bears decided to step in and fiercly so.
We got cut short at 170$.
No matter where the market goes from here, i still argue that long term wise - this is a good place to average in.
If you're trading this market i would look for a bounce this current area or 100$. but tread with caution.
I think we have a lot of sideways action a head of us once we reach new lows.
One scenario that can change the current movement is a break above the trendline that has rejected us several times thus far.
Note
lower resistance reached (130$) , now we will see if its strong enough to continue to upper resistance (140$) or start to make right shoulder directly from here.If you're trading the bounce, i suggest close some of your position with good profit.
Note
Looks like another bounce could happen on the dailyNote
Was a very small bounce 120->132 that got sold off (post above).Now we are breaking down - we are looking to test the 100$ range again.
Note
My reflection over current price movment is depicting something like this.Will keep it updated as we move
Note
Fib circle action 30th JanNote
40-60$ bottom of channel trendNote
Relevant information - this channel is legit Note
long term projectionbaseline somewhere around 50-30$
Note
We have max 1 monthly red candle left before we should be greenLOG scale
Note
CapitulationNote
It's starting to crumbleNote
Remember 30th JanNote
We dig deeper for support as expected~~!Note
Following the chart nicely.Note
Let's see what happens now. A break here could cause a much larger bullish move. Right now its touching the exact area where i expect a drop. It should drop with a high velocity if it gets rejected...
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.