Introduction
In this blog post we are going to analysis ETH short term (grab the money and run), and what trades to open on ETH [1]. ETH reached all time high (ATH) at 2500 something, this price could be predicted with fb entrancement.
See below:
Note: This chart shows the Fibonacci retrenchment hitting the psychological resistance close to 2500 dollars. ETH also has a significant de-coupling after January 2021 (about 9%), due to the fees and some other issues. It seems that ETH is going to retest very soon the 2500 dollar resistance pretty soon.
ETH TA
Below we can see that ETH formed a reverse double bottom:
Note: Set your limit sell order to 2300 something, as 2500 is a psychological resistance. A 10x on 2370 is safe enough. ETH seems to create a pennant after the 2279 dollar resistance. Also the latest 4hr resistance can act as a support.
ETH every time it is testing the EMA ribbon bonces back up:
Note: ETH today is moving above the EMA ribbon and has successfully completed a ribbon bonce.
UPDATE (22/04/2021)
We can see now that on the 1hr chart ETH created a channel:
And on 1day chart the ETH FBR is targeting the 4159dollars:
References:
- www.newsbtc.com [1]
No comments:
Post a Comment