as we can see and I told before ETHUSD is getting weaker and weaker lower highs and lower lows seen and coming continuously and the price is falling more and more But...
BUT the question is here that when this falling ends ?
1.if we want to use Fibonacci retracement the end would be 1240(0.618% of Fibo ):
2.if we simply consider strong resistance that broke and now turn to support or available strong support that remains we can say the falling may continue to 1150 $ and then Red trendline broke and we will reach our targets or even maybe ETHUSD now gets support and start great move to our targets
so 1. was definition of purple way and 2. was definition of Green paths available in chart so what are blue paths ? blue paths are previous analysis that both targets reached and are :
and the first blue Arrow is :
Targets in this analysis are : first. 1500$ second. 1700$(first target is more valid in this bearish market for now)
Hope you enjoy this analysis
<<Traders comment below and let me know your thinking about this analysis even simple ((agree)),((not sure))>>
Hi, ETH will fall as much as it has to fall. And that is the crude and ugly reality. Nothing else matters. No Fibonacci, No shoulders, not last 90 days data.
Nothing. Market is unpredictable, What is very funny here is that if you and all that are wasting millions of hours building charts will Always have a "technical" reason to explain what is happening, if market is bullish you will show me a "head" or I "shoulder" that comes to confirm your chart but if market is bearish you will also have at hand on your chart " a line" that tells me why the market is bearish..
I keep promising to myself not to read again tradingview....I am sad to say that I keep coming back to it.
MMBTtrader
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@Tapita, the market respect technical too and until this signal i was all bearish and sharing bearish scenario
But for now i like to take profit of this long one too
Look at previous analysis that all linke below and you will find out there is always technical view available in bot bearish or bullish market
@Tapita, combine TA with fundamentals, sentiment, intermarket-correlations and news and you have a great combination. By the way.. to say something "will" is naive
BelowZero
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@Tapita, TA actually makes a lot of sense because it acts as some sort of shrink for a "collective psychology" and related investment / trading decisions. If you believe in shrinks, you should believe in TA.
From my own experience, my trading / investing results improved exponentially once I got better at TA. Try giving it a chance, you might be surprised: We, humans, are very predictable creatures...
BitonGroup
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@Tapita, dear i believe your should look for some fundamental Indicator which shows you some comprehensive data.
technical Analysis are for the people who would love to play with the magic or mathematics, not sociopsychology or geopolitical macros.
@MMBTtrader, it is a brilliant analysis you have published brother. keep it up,
thanks for sharing
Nothing. Market is unpredictable, What is very funny here is that if you and all that are wasting millions of hours building charts will Always have a "technical" reason to explain what is happening, if market is bullish you will show me a "head" or I "shoulder" that comes to confirm your chart but if market is bearish you will also have at hand on your chart " a line" that tells me why the market is bearish..
I keep promising to myself not to read again tradingview....I am sad to say that I keep coming back to it.