Supportandresistances
Bulls and Bears zone for 07-27-2022FOMC will release its decision on interest rates this afternoon which could be the reason why market is trading in a range during ETH session.
Any test of yesterday's High could provide direction for the day.
Level to watch 3952 --- 3954
Reports to watch:
US:Pending Home Sales Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
US:FOMC Announcement
2:00 PM ET
US:Fed Chair Press Conference
2:30 PM ET
Bearish Rising Wedge!!! Ethereum nice analysisWaoh, we see a beautiful trade position. So guys, as I mentioned in Bitcoin, I closed up the position on Ethereum/Dollar today because Ethereum was formed a bearish risign wedge and right now, we see that Ethereum it's so bearish toward the $1,000 USD again before to continue up to touch the maximum history price that are $1,400 USD. Now, in H2 timeframe there's an interesting good opportunity to short Ethereum to find down approximately 17% of earns if I compared this with using the barish rising wedge base to measure it and know the forecast average.
In H8 timeframe we see that Ethereum for far away it's turn more bearsih and then, we can to find up a good opportunity of trades. So, in that case I like to analyze a lot Bitcoin and Ethereum as my principal pars of cryptocurrencies.
And in Daily chart, we hope a correction as we see in short term at H2 timeframe.
So guys, I put a sell order limit at $1,250 USD with a SL at $1,320 USD and obviously my target will be the $1,050 USD, and that it's it based in my critical point of support to look out.
Guys, if you like htis idea, please give me a live, hand up and repply this information for others traders to have another different idea to share it.