"Top and Bottom Analysis" ETH/USD by ThinkingAnts Short

Ethereum / DollarBitfinex

Description

⋅ Apr 11, 2019 2:53 PM

4H CHART EXPLANATION:

On 4H chart, we have a Bearish vision due to:

- Revertion from a Major Resistance Level (Confluence Zone)
- Broken Ascending Trendline
- MACD Bearish Divergence

We consider this as a failure of the Bullish Movement so will be looking for short setups towards 143 being careful to the middle support zone at 156.

Updates coming soon!

MULTI TIMEFRAME VISION

-Weekly

-Daily:

Comments

MrJEB

⋅ Apr 12, 2019 1:13 AM

Feb 9th - Feb.17th MACD gave the same signal, and price gradually rose. Did the same thing on Dec. 28th, and price trended upwards well before MACD caught up and became relevant. Good zone back in July 2017 though, definitely good $ in this area.