I have found an interesting setup on ETH, combining both fib levels and horizontal support/resis.
After we broke the last major low (around 360ish) it has been pretty much non stop until 250. An incredible fall. One that left a lot of panic, and gave us an all-time-low on the daily RSI .
I see this as an opportunity. A simple fib retrace lands us near that old major low (360) which will probably become resistance. I will try to sell 300 and then 340.
Afterwards, I predict a fall to 180, which also happens to be a fib level and horizontal support zone .
Stop loss is around 240, because this becomes invalid for me if the fib structure is broken.
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ETH seems to have made a local bottom, with both BTC and USD pairs barting hard to the previous trading range. Let's see if we can take this to 340+!
Spot on mate, getting the same signals here. Mounting support right now at 280, think we can hit a nice spike to 320, then right back down. Looking to pick up a quick 15% and GTFO