TFL2020

CHANCE FOR RALLY CONTINUATION

Long
BITFINEX:ETHUSD   Ethereum
AFTER A HEALTHY CORRECTION IN THE CRYPTO MARKET, THE BULLS TRYING TO TAKE OVER AGAIN. WE CAN SEE IN THE 4 HOUR CHART THAT THE LAST CORRECTION FOUND SUPPORT AT 280 LEVEL AND 61.8 FIBO LEVEL. THE BULLS WILL TRY TO RE TEST THE LAST RESISTANCE AREA AROUND 360. BREAKING 280 SUPPORT WILL TRIGGER A BIGGER CORRECTION TOWARDS 240-200. ON THE UPSIDE, BREAKING THE 360 LEVEL CAN PUSH THE PAIR TOWARDS 450-500 LEVELS. THIS WEEKEND ALL EYES WILL BE ON THE G-20 MEETING BETWEEN TRUMP AND CHINA LEADER XI. IF THE LEADERS OF THE 2 BIGGEST ECONOMIES IN THE WORLD WILL NOT BE ABLE TO END THE TRADE WAR, IT WILL BE VERY NEGATIVE FOR THE FINANCIAL MARKETS, AND THAT CAN PUSH ALL CRYPTO HIGHER. A GOOD RESOLUTION BETWEEN THE TWO CAN DO THE OPPOSITE, SENDING THE MARKETS HIGHER , CAUSING MORE SELLING PREASSURE ON THE CRYPTO MARKET.
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