ETH/USDT : Needs to retrace before bounce above the resistance
ETHUSDTHello everyone 😃
Before we start to discuss, I would be glad if your share your opinion on this post and hit the like button if you enjoyed it !
#ETH recently break above the 1H's resistance zone and take hold above it, This can confirm the Head & Shoulder formation on higher timeframes.
But this bounce caused the leg up into the overbought zone on RSI's oscillator. So from current level, the higher movements can cause a bearish divergence on RSI and it won't let #ETH to pass above the ATH's resistance !
- So it will be the 1st factor for #ETH to retrace from the current resistances...
Another factor will be the stiff resistance zone below the ATH, Which is known as a 2Days order block.
On current attempt to breakout, Which is the 2nd attempt on count; Based on 3rd and 5h breakout rule, Current attempt will have the lower chance to break above !
So we can use this opportunity to maximize our profits.
On the last words, Volatility is reaching the buy limit zone, So we nee to pay attention on it..
My buy levels will be after retracement or above the current ATH.
Hope you enjoyed our analysis about #ETH's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Helical_Trades
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