REDACTED ETH INTRA-DAY BREAKDOWN
What has occurred since our last INTRA-DAY BREAKDOWN FOR ETH ?
- Well, I posted analysis on the 4th of January, when ETH was trading at 157$ and had seen multiple rejections from the 165$ price ceiling. I stated that our short conformational price initially was 145$ and a break of this zone would be a good indication of a short to 133$, 122$ and 118$ respectively. However, right before we broke the ascending support line shown in black, I stated that we could move this conformational price to 155$ on our free telegram channel and as soon as we saw the break of this trend line (and as expected in our analysis), we quickly found support in order to retest the trend line before a rejection to the downside (all of this is normal well known price action that any good trader should have in their head). Thereafter, the meltdown came to 133$ and I presumed initially we would find support at this level. However, as stated in the analysis, a break of this level would lead to targets of 122$ and 118$ thereafter for support - I also constantly updated this information in real time on our various platforms.
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction of the next move:
WHAT CAN BE SEEN ON THE DAILY CHART FOR ETH ?
- On the daily chart for ETH using normal candlestick formation, we can see that currently MA’s are being used as resistance. We can also see that since using 107$ as support the bulls raged back in. We can see that EMA 200 currently lays at 230$, which is a MASSIVE resistance, which ETH has failed to break on multiple occasions before. PRICE CURRENTLY STANDS JUST ABOVE 118$ SUPPORT LEVEL.
- Looking at our momentum indicators, we can see that RSI is at a temporary resistance level from supporting zone of 28 on RSI and currently RSI is just below 40 level RSI resistance level. Looking at RSI/ROC we can see that it is currently at a support level of 40 and historically there is strong tendency for this level to be used as support.
WHAT CAN BE SEEN ON THE 4 HOURLY CHART FOR ETH ?
- On the 4 hourly chart for ETH, we can currently see that EMA 200 lays right below 133$ level and this could suggest that temporarily, we may be unable to test this price range and even if we do this is an indication of maximum upward movement that we can come to expect. We can also see that the bulls have stopped a bearish crossover occurring on the MA’s on this time frame many a time, this should indicate to us that the bulls are barely hanging on at the minute.
- Taking a look at our momentum indicators such as RSI, we can see that we are near 60 level resistance on RSI and I feel that a rejection from this level will be necessary and likely. Why ? Because looking at our RSI/ROC indicator, which is a much better average of direction, we can see that we are near 60 level resistance firstly and we can also see that we are near resistance line at 60 level shown in blue on this indicator. There is a 90% chance of a knockdown from this resistance zone back down to 40 level support on this indicator. This would correlate with a rise to 122$ and then a drop to lows of 107-111$ being created.
WHAT CAN BE SEEN ON THE 1 HOURLY CHART FOR ETH ?
- On the 1 hourly chart for ETH, we can see that EMA 200 resistance now currently lays right at 122$ upward target. From this level, we can expect bearish activity to resume and on the hourly chart we can see hour irregular price action to 128-133$ would be. Moreover, the divergence between the MA’s is becoming greater, indicating that a final short squeeze to 122$ is in fact still in the hands.
- On our RSI indicator, we can see that we are currently at resistance zone of 60 level and a decline to 28 level for support on this indicator is highly plausible and this would correlate to a price fall to 116$. None the less, once we take a look at the more accurate RSI/ROC indicator, we can see that there is a bullish divergence from RSI on this indicator and it looks like its affirming my thoughts of a retest of 122$ before bearish activity can begin successfully ; shown by the fact we are yet to even touch 60 level resistance on this indicator.
To conclude:
1. Expect bearish activity to continue on the whole and price is restricted to the upside to a maximum price of 122$. Even more so in real time, we can constrict this even further to 118-120$.
2. Following a rejection from these levels, then our targets to the downside for support lay at 111$, 107$ and 103$.
3. A break of final support at 103$ will signal to us a drop to 80$ support once again but we must realise that 103$ support is very strong and a break of this level is least likely.
4. Confirmation prices for SHORTS - 115$ IN THE SCENARIO OF A STRAIGHT DROP AND 118$ IN THE SCENARIO OF A REJECTION FROM 120-122$ RESISTANCE ZONES.
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
What has occurred since our last INTRA-DAY BREAKDOWN FOR ETH ?
- Well, I posted analysis on the 4th of January, when ETH was trading at 157$ and had seen multiple rejections from the 165$ price ceiling. I stated that our short conformational price initially was 145$ and a break of this zone would be a good indication of a short to 133$, 122$ and 118$ respectively. However, right before we broke the ascending support line shown in black, I stated that we could move this conformational price to 155$ on our free telegram channel and as soon as we saw the break of this trend line (and as expected in our analysis), we quickly found support in order to retest the trend line before a rejection to the downside (all of this is normal well known price action that any good trader should have in their head). Thereafter, the meltdown came to 133$ and I presumed initially we would find support at this level. However, as stated in the analysis, a break of this level would lead to targets of 122$ and 118$ thereafter for support - I also constantly updated this information in real time on our various platforms.
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction of the next move:
WHAT CAN BE SEEN ON THE DAILY CHART FOR ETH ?
- On the daily chart for ETH using normal candlestick formation, we can see that currently MA’s are being used as resistance. We can also see that since using 107$ as support the bulls raged back in. We can see that EMA 200 currently lays at 230$, which is a MASSIVE resistance, which ETH has failed to break on multiple occasions before. PRICE CURRENTLY STANDS JUST ABOVE 118$ SUPPORT LEVEL.
- Looking at our momentum indicators, we can see that RSI is at a temporary resistance level from supporting zone of 28 on RSI and currently RSI is just below 40 level RSI resistance level. Looking at RSI/ROC we can see that it is currently at a support level of 40 and historically there is strong tendency for this level to be used as support.
WHAT CAN BE SEEN ON THE 4 HOURLY CHART FOR ETH ?
- On the 4 hourly chart for ETH, we can currently see that EMA 200 lays right below 133$ level and this could suggest that temporarily, we may be unable to test this price range and even if we do this is an indication of maximum upward movement that we can come to expect. We can also see that the bulls have stopped a bearish crossover occurring on the MA’s on this time frame many a time, this should indicate to us that the bulls are barely hanging on at the minute.
- Taking a look at our momentum indicators such as RSI, we can see that we are near 60 level resistance on RSI and I feel that a rejection from this level will be necessary and likely. Why ? Because looking at our RSI/ROC indicator, which is a much better average of direction, we can see that we are near 60 level resistance firstly and we can also see that we are near resistance line at 60 level shown in blue on this indicator. There is a 90% chance of a knockdown from this resistance zone back down to 40 level support on this indicator. This would correlate with a rise to 122$ and then a drop to lows of 107-111$ being created.
WHAT CAN BE SEEN ON THE 1 HOURLY CHART FOR ETH ?
- On the 1 hourly chart for ETH, we can see that EMA 200 resistance now currently lays right at 122$ upward target. From this level, we can expect bearish activity to resume and on the hourly chart we can see hour irregular price action to 128-133$ would be. Moreover, the divergence between the MA’s is becoming greater, indicating that a final short squeeze to 122$ is in fact still in the hands.
- On our RSI indicator, we can see that we are currently at resistance zone of 60 level and a decline to 28 level for support on this indicator is highly plausible and this would correlate to a price fall to 116$. None the less, once we take a look at the more accurate RSI/ROC indicator, we can see that there is a bullish divergence from RSI on this indicator and it looks like its affirming my thoughts of a retest of 122$ before bearish activity can begin successfully ; shown by the fact we are yet to even touch 60 level resistance on this indicator.
To conclude:
1. Expect bearish activity to continue on the whole and price is restricted to the upside to a maximum price of 122$. Even more so in real time, we can constrict this even further to 118-120$.
2. Following a rejection from these levels, then our targets to the downside for support lay at 111$, 107$ and 103$.
3. A break of final support at 103$ will signal to us a drop to 80$ support once again but we must realise that 103$ support is very strong and a break of this level is least likely.
4. Confirmation prices for SHORTS - 115$ IN THE SCENARIO OF A STRAIGHT DROP AND 118$ IN THE SCENARIO OF A REJECTION FROM 120-122$ RESISTANCE ZONES.
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
Trade closed: target reached:
First target of 107$ reached, Second target 103$, support is expected here.
