ETHUSD is inside a descending Channel 🦐
Updated
ETHUSD is inside a descending Channel, and the price is testing monthly support.
If the price will lose the support we can see a deep retracement around 0.618 or 0.786, previous monthly support.
If the price will break the channel towards up, we can see a test of weekly resistance, around 500$
According to Plancton's strategy, we can set a nice order
Monthly
Weekly
–––––
Follow the Shrimp 🦐
Keep in mind.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
If the price will lose the support we can see a deep retracement around 0.618 or 0.786, previous monthly support.
If the price will break the channel towards up, we can see a test of weekly resistance, around 500$
According to Plancton's strategy, we can set a nice order
Monthly
Weekly
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Note
Must Hold Monthly and Daily SupportKeep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
Note
The chart is very similar to BTCUSDTThe price bounced on 0.382 Fibonacci level and on Monthly and Daily support.
The price should have a breakout towards up with volume in order to continue the bull scenario
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