Hello everyone and welcome to my new idea on ETHUSDT on 1D chart. As always do your DD. Be sure to like if you agree and follow my profile for more ideas.
Few numbers to begin with
1. ETH Major support. We bounced out of it in a big fashion last time. Expected to hold if things go south again.
2.Deciding point on whether we go up or down, I expect we will see in...
If ETH successfully bounced from support then recently created major resistance is at about $4450, however at this point we cannot be certain that we are out of the woods and I think the next hours will decide whether we are in for a bit more of decline before climbing back up.
If we indeed managed to bounced successfully then we need to break through $4340 to...
This is a 4th try of breaking out of 3250 zone. If we close this candle above the higher red line it is a clear bullish signal for a big green candle. Failure to do so might result in another day of sideway trading and 5th try. Altair upgrade is landing tomorrow which can be catalyst also.
If the red line gets crossed it is basically a free fall, lets hope for the best. Its getting heavily oversold and I do not believe this can last long.
The 0.786 Fib seems to hold strong and indicators are ready to blow but there seems to be alot fear now in the crypto market.
I think now is a good time to buy but we might be in for some time of trading sideways.
I am not a financial advisor and this Idea should be taken purely informative.
I am not a financial advisor, this Idea is purely informative and should not be viewed by anyone.
1D Chart.
Stochastic Oscillator got crossed yesterday and RSI seem to bounce from 36.5
Are we out of the woods yet? I think we have to wait for next 1D candle to form which will give is more insight into potential movement. We made great use of 0.786 Fib for...
