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ETH/USD looking bearishETH/USD: trade update So as we can see the price did break the possible rising wedge that we had on the chart. What we also can see now is that the price did do a retest of that wedge and went down after that. It did another retest of the wedge but still was not able to break the wedge. We can now see that the price still is moving down. I think that we are going to see a drop to at least the 0.382 level of the Fibb and I am waiting for that to happen. Once it does go to that level there are 2 things that can happen. 1) The first thing is that we see a break of that level and then I will be waiting for it to drop a little lower to the zone that is marked as zone of interest. I think that if the 0.382 level is not able to hold than that zone has a higher chance of holding because we saw that it already did hold a few times in the past. 2) The other thing that can happen is that the price touches that zone and reverses to the top side. We do can see that the price did already reverse sometimes on the 0.382 level so it does seem to be forming a support at that level in the short term. In conclusion: So I think that we will see a bigger drop happening before we are able to go back up again. I am now waiting for it to go lower to buy more Ethereum. If you have any questions feel free to send me a message. If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments. Everything you see on my profile is just for educational purposes only.
COINBASE:ETHUSDShort
by MaBaCapital2
USDJPY, DONOT MISS THE RALLY, ALERT SIGNALS!!Plan A (LONG): If it respects the formed channel and does not give a breakout, and formed bullish candlesticks pattern at HL near the bottom line of Channel then; Buy at Buying zone after formation of Bullish Candles near 112.300 which is at around 23.6% Fib level TP 1: 114.133 (Major Resistance) TP 2: 115.314 (Previous HH) SL: Whenever it breaks the formed channel Plan B (SHORT): if it gives a breakout of Rising Wedge then; Buy: 110.750 TP 1: 109.341 (Major support zone near 50% Fib) TP 2: 107.525 (Another support at around 61.8% of Fib level) SL: If it again enter into the rising wedge chart hit Close Bullish Indications: Series of Higher Highs & Higher Lows Trading in a bullish channel Bullish trendline After making a HL at the bottom line of channel, it will probably move upward to make HH Bearish Indications: Formation of Rising Wedge Chart pattern If it gives a breakout of Rising wedge pattern then it will probably go down to 109.341 which is at around 50% Fib followed by 107.525 which is at around 61.8% Fib for TP 2 of Plan B IF YOU LIKED THE IDEA, SHOW YOUR SUPPORT ;) AND IF YOU DONT THEN LETS DISCUSS ;) WE NEED YOUR SUPPORT TO KEEP THIS GOING ;)
by FreeTradeAnalysis
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