If the RSI recovers some ground returning to levels above 50 in value. We could see a better bullish position on ETH. Although I personally expect ETH to touch 0.618 and go back down. Fulfilling my idea that this is a BearTrap. Being an ABC Pattern in the market.
The MACD for the first time in a long time touched negative levels. Which could mean that this fall really had quite a force. It is losing steam and trying to cross to get back up. But the worrying thing is the negative values in the indicator touched for the first time after a long time.
If I rely on FIb we have touched the psychological levels of 0.5%, for an upward attempt to take 0.618% again to perform an ABC. This is my position, even the market is very volatile and this could be invalidated if we end up exceeding the 0.382% retracement.
Tambien nos damos cuenta que hemos finalizado 8 velas bajistas e iniciado 2 velas alcistas, lo cual es una buena señal de un posible bullish de 6-8 velas alcistas.
Adding that most liquid cryptocurrencies are currently performing an inverted HS = HCH. Which would be interesting to see if you can get rid of the neckline. (Endurance).
Personally, I only hope to exceed 0.618% and close my position long with 2x Leverage. All the best.
The MACD for the first time in a long time touched negative levels. Which could mean that this fall really had quite a force. It is losing steam and trying to cross to get back up. But the worrying thing is the negative values in the indicator touched for the first time after a long time.
If I rely on FIb we have touched the psychological levels of 0.5%, for an upward attempt to take 0.618% again to perform an ABC. This is my position, even the market is very volatile and this could be invalidated if we end up exceeding the 0.382% retracement.
Tambien nos damos cuenta que hemos finalizado 8 velas bajistas e iniciado 2 velas alcistas, lo cual es una buena señal de un posible bullish de 6-8 velas alcistas.
Adding that most liquid cryptocurrencies are currently performing an inverted HS = HCH. Which would be interesting to see if you can get rid of the neckline. (Endurance).
Personally, I only hope to exceed 0.618% and close my position long with 2x Leverage. All the best.
Comment:
4h Charts, Overbought Indicators, Stop Profit and Let Run.