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Ethereum (ETH) - October 7

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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It fell below the short-term downtrend line (8).

You need to see if you can get support and rise at the uptrend line (4).

It is possible to gain support and rise from 302.70-318.16.
However, I think it's a little bit more likely to decline.
Therefore, if it falls at the uptrend line (4), it is a short-term Stop Loss.

I think the next volatility period is likely around October 13.

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(ETH Dominance 1D Chart)
You need to see if you can get support at the uptrend line (2) and rise above 11.70 points.

You should also watch to see if you are moving above the uptrend line (2) around October 9th (October 8-10).

If it is located above the 10.99 point, we are expecting movement to create a new wave.

However, if it is supported at 11.70, the size of the new wave is expected to be large.

Therefore, I think it is most important to rise along the uptrend line (2).

If your ETH dominance falls below 11.70 points, you're more likely to touch 10.99 points, so you need to trade carefully.

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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for generating profit as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)

Comments

Nice analysis.Thank you for sharing
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