1st touch rejection off of $385 on the 12th of October sent the price back down to the nearest level of support which was found at $369.
That move right there we would've seen a $353 touch possibly even a $334 but the price is holding at $369.
I don't use indicators because the only indicator that can drop the price of Ethereum and the rest of cryptos is the S&P. If the S&P keeps rising, so will cryptos and Ethereum. If the dems do something stupid and crash the market, cryptos will crash too. You saw what happened in March.. hard reality is there are no safe-haven assets, everything is directly correlated with the US stock Index.
This $369 resistance level turned into support, and now the next target is $385 again until we see a decent close that and then ETH is on its way back up to $401 resistance again.
Perfect entry signaled at $369 support level.
As always please do your own research, I am not a financial advisor.
That move right there we would've seen a $353 touch possibly even a $334 but the price is holding at $369.
I don't use indicators because the only indicator that can drop the price of Ethereum and the rest of cryptos is the S&P. If the S&P keeps rising, so will cryptos and Ethereum. If the dems do something stupid and crash the market, cryptos will crash too. You saw what happened in March.. hard reality is there are no safe-haven assets, everything is directly correlated with the US stock Index.
This $369 resistance level turned into support, and now the next target is $385 again until we see a decent close that and then ETH is on its way back up to $401 resistance again.
Perfect entry signaled at $369 support level.
As always please do your own research, I am not a financial advisor.
Trade closed: target reached:
1st TP 🎯 hit @ $385 to a Tee
