ETHUSDT 4H - 3 levels for a "Must buy" Ethereum
Hi everyone,
From a conservative point of view, I am finding 3 price levels where I would consider to enter a position in Ethereum. Could the price go higher and miss the train? Indeed, but I do not buy tops unless I see promising patterns, therefore I find more safe to wait for retracements.
Looking at the chart, you can see the middle line of the pitchfork, which has a considerable high volume when price touched it, so I see chances that price could find this middle line again. Also, the bull run has been quite extended in my opinion and a retracement or correction is likely to happen.
There is a confluence around 215 (highlighted the small white box) which would be a first consideration for entering a small position. My favourite entry though, would be the range 199-204, highlighted in purple, as there is a remarkable confluence at that level and within the pitchfork.
As a last level, highlighted in turquoise, which I think might not happen unless there is a hard crash, a tiny range around the 180 level. It is a 50% retracement level of the run from bottom to the current top and the support there will be strong.
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
From a conservative point of view, I am finding 3 price levels where I would consider to enter a position in Ethereum. Could the price go higher and miss the train? Indeed, but I do not buy tops unless I see promising patterns, therefore I find more safe to wait for retracements.
Looking at the chart, you can see the middle line of the pitchfork, which has a considerable high volume when price touched it, so I see chances that price could find this middle line again. Also, the bull run has been quite extended in my opinion and a retracement or correction is likely to happen.
There is a confluence around 215 (highlighted the small white box) which would be a first consideration for entering a small position. My favourite entry though, would be the range 199-204, highlighted in purple, as there is a remarkable confluence at that level and within the pitchfork.
As a last level, highlighted in turquoise, which I think might not happen unless there is a hard crash, a tiny range around the 180 level. It is a 50% retracement level of the run from bottom to the current top and the support there will be strong.
*Not financial advise. Just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
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