What's up traders, I hope you're all having a good trading week.
This is a follow up analysis of my previous Ethereum analysis (See related ideas for the previous analysis.) My previous analysis went perfectly to plan and if you followed it, you'd now be in strong profits.
Let's analyze ETH/USD on the 4H chart.
When analyzing this chart, Ethereum has had some nice upside. For the time being, it's best to watch for juncture levels where placing a position, this is of course unless you bought a few days ago, then I would say you should definitely hold a long Ethereum position.
As you can see from the chart, the level to watch for a trading opportunity is the side-wards resistance line at 620 level, because this is the level that will either be used as support for continued upside, or used as a resistance level for some downside before a later buying opportunity.
If Ethereum breaks the side-wards resistance line at 620 and becomes a new support, this is a good buy opportunity.
I will update this analysis when I receive above 40 likes.
Hello and thank you Tom for sharing your expert analysis. Greetings from Switzerland.
chudyace2
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.good job you are doing tom. Please am new into cryptos, please i will like to know the next support(buying range ) for ETH. Thanks
Uboakp
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when next ethereum doing retracement?
Uboakp
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i believe you.
A3tuan253
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Thanks
vivekmessikumar
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thank you for your hard work :D
analyzed from EW perspective
please share your views on this :)
rezaariann
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How come mr tom you change your mind all the time ?! Just a few days back you post a anlyse that Eth iexactly in a doffrent way, you were totaly bearish