ETHUSD
After BTC dumping yesterday, the price finding most important level of support at USD 1750 0.618 fib level.
Expecting price to go up from here
Reasons to be bullish:
1) Consolidating at support level after dumping
2) Finding support at 200Ma 4 hours
3) Above 20MA on daily TF
4) RSI still above 50 on daily
5) MACD still green on daily
However, we need the daily candle to close above USD 1720-1750 area during the next two days to confirm. Loosing this support will bring the price back to previous resistance at USD 1600.
After BTC dumping yesterday, the price finding most important level of support at USD 1750 0.618 fib level.
Expecting price to go up from here
Reasons to be bullish:
1) Consolidating at support level after dumping
2) Finding support at 200Ma 4 hours
3) Above 20MA on daily TF
4) RSI still above 50 on daily
5) MACD still green on daily
However, we need the daily candle to close above USD 1720-1750 area during the next two days to confirm. Loosing this support will bring the price back to previous resistance at USD 1600.
Comment:
Still consolidating between support and resistance, very good indication of pumping in the next few days. It is like a spring storing for more energy to pump higher to ATH.