The chart shows a retest of the 38.2% retracement from the 212 euros (230 US Dollars) Zone on the daily and 4H. There ain’t ay divergence in volume suggesting that buyers are willing to buy at this level and hold it. Looks a good place for me to add to my longs as I expect market to move upwards to 212 euros (230 US dollars). However, with the Baktt launch tomorrow, its better to stay away and see how the market reacts tomorrow.
My added longs are posted on the 4H chart. With an expected R:R of 3.08, its a good trade for me to risk. Weekly close today will be very interesting and maybe indicated where will the market move tomorrow after Baktt launch.
Long Ether
Disclaimer: This ain't financial advice, simply a setup that I am taking.