If I'm wrong about ETH, please consider unsubscribing to me. I really like how this is looking. My fear level is very low.
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I like the setup... From one perspective I look like a bad looser. It's fake. The movement down is fake.
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Zoomed in...
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Blue line is a little bit of a resistance...
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Clarification... The resistance is strong 5 days ahead and then after that it diminishes in strength. The price will probably bounce at the edge of the red area multiple times. It's probably going to be attracted towards it but now allow itself to cross into it. That's how I look at Ethereum currently.
Update could come in a few days with a very different view, but until then this is what I thing decides the market sentiment. So if the price is touching the area it has nowhere else to go but down. Right now it is not touching so I'm not worried...
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Showing strength. Broke into the red area and even got some support there
Nice idea on ETHUSD and there may bullish bias as you have identified. For our set up, we have identified the key support and resistance levels. The support level that we have identified is at 188.15 (horizontal swing low support, 100%, 61.8% Fibonacci extension , 76.4% Fibonacci retracement ). Stochastic is approaching our support and we might see a corresponding bounce in price. If a bounce does occur, we may want to look at at 221.22 (horizontal overlap resistance, 61.8% Fibonacci extension , 50% Fibonacci retracement). Excited to see how things develop.
Please have a look at our idea and share with us what you think.