---- Mid-term Analysis for the next coming 4 weeks to 3 months - Based on Daily Chart -------
ETH/USDT: Bullish reversal confirmed
Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. There is now a bullish reversal confirmed after having reintegrated 1440
Market configuration
- Graphical Elements :
Graphical support = 1170 / 880
Graphical Resistance = 1670 / 1830 /2170
- Mathematical Indicators:
EMA ( Exp Moving averages) are support = Bullish
RSI indicator (below) is now above 50% = BUllish
- Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave (v) (c) (4) is now completed - the market is now bouncing off in recovery
Fibonacci resistance of the wave = 1670 and 1830
Fibonacci bullish wave target at 2170
Fibonacci bullish wave support at 1170
Fibonacci bearish wave target at 880
Conclusion
Prefered case => As long as 1170 remains support a larger recovery towards 1670 and 1830 (intermediate before 2170 is expected
Alternative case => Breaking 1170, double bottom to 880 will occur
ETH/USDT: Bullish reversal confirmed
Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. There is now a bullish reversal confirmed after having reintegrated 1440
Market configuration
- Graphical Elements :
Graphical support = 1170 / 880
Graphical Resistance = 1670 / 1830 /2170
- Mathematical Indicators:
EMA ( Exp Moving averages) are support = Bullish
RSI indicator (below) is now above 50% = BUllish
- Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave (v) (c) (4) is now completed - the market is now bouncing off in recovery
Fibonacci resistance of the wave = 1670 and 1830
Fibonacci bullish wave target at 2170
Fibonacci bullish wave support at 1170
Fibonacci bearish wave target at 880
Conclusion
Prefered case => As long as 1170 remains support a larger recovery towards 1670 and 1830 (intermediate before 2170 is expected
Alternative case => Breaking 1170, double bottom to 880 will occur
Trade active
1830 target reached and surpassed a new analysis will be published
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.