ETH - [1-27-2019] Key Support Levels

SignalFi Updated   

Today we'll look at the drop in $ETH and where it could go based on fibonacci retrace values projected by VectorFI.

Our Golden Pocket (61.8 - 65) zone on the Daily timeframe has been support in the past, and 98 low is a key horizontal support.

All lines are automatically drawn, where new projection fans are created with each Daily open/close cross.

Reference Script Link:
For reference and perspective...
NOTE: Previous Golden Pockets plotted in this manner act as support and resistance lines. This chart shows how the short, previous VectorFI fan's Golden pocket was the highly contested 112 support area. On the previous downward (bear) Fan we got a strong bounce of the Golden Pocket area. The projected extension of this fan's Golden Pocket value is 102-103, where we could see a short term reversal if the uptrend is to hold. If this area breaks then the current fan's Golden Pocket at the 98 area would be the bounce area to observe. The next lowest support level is $83.
We can further contextualize this trade through applying ShotGunFI to see how most of the market see's their indicators right now. We see the breakdown of support held by the bulls thus indicating a divergence. We also have multiple confirmations on the bear side, and are showing oversold (aqua bars). This view combined with VectorFI help provide a fenced view of how the market generally reacts given the current price action.
We also see that we're rolling over on our COG (CogniFI), since we've been riding the midline for this long, we can expect supports to be tested.
We can also take a look at Bitfinex Ethereum Long and Short outlook through FutureFI. Bears winning here too, but Shortpower is starting to show overbought, this could be bottom or beginning of a bear flag down to lower supports. ...
And there you have it.

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