WEEKLY :
Still in its ongoing uptrend channel, last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down...
Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3'700
would open the door for lower levels towards the Kijun-Sen, currently @ 3'285
DAILY :
Currently in a broad sideways slightly down channel (in orange on the chart) and in the middle of the daily clouds support area.
Watch carefully price action of the Lagging Line which is currently below the Kijun-Sen...
First significant support is @ 3'761 (50 % Fib ret) and also roughly the bottom of the daily clouds support zone and below the next support is
@ 3'498 which is the 61.8% Fib Ret.
Interesting to look at the RSI price action, currently below the 50 level, @ 42.37
H4 :
Below the clouds and below Mid Bollinger Band, Kijun-Sen and Tenkan-Sen... looks like ready for at least a retest of former low @ 3'753 where a potential
bullish divergence (double bottom could take place !)
Watch carefully price action during the ongoing and next H4 period to get clues.
RSI below 50 too @ 36.81
H1 :
Below the clouds and below all three main indicators... for the time being, any recovery should still be seen as a corrective move in a broad bear trend (see daily chart)
The ETHUSD should quickly recover at least above 4'200/4'250 on this H1 time frame in order to temporary neutralise the ongoing downside risk.
All the best and take care
Ironman8848
Still in its ongoing uptrend channel, last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down...
Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3'700
would open the door for lower levels towards the Kijun-Sen, currently @ 3'285
DAILY :
Currently in a broad sideways slightly down channel (in orange on the chart) and in the middle of the daily clouds support area.
Watch carefully price action of the Lagging Line which is currently below the Kijun-Sen...
First significant support is @ 3'761 (50 % Fib ret) and also roughly the bottom of the daily clouds support zone and below the next support is
@ 3'498 which is the 61.8% Fib Ret.
Interesting to look at the RSI price action, currently below the 50 level, @ 42.37
H4 :
Below the clouds and below Mid Bollinger Band, Kijun-Sen and Tenkan-Sen... looks like ready for at least a retest of former low @ 3'753 where a potential
bullish divergence (double bottom could take place !)
Watch carefully price action during the ongoing and next H4 period to get clues.
RSI below 50 too @ 36.81
H1 :
Below the clouds and below all three main indicators... for the time being, any recovery should still be seen as a corrective move in a broad bear trend (see daily chart)
The ETHUSD should quickly recover at least above 4'200/4'250 on this H1 time frame in order to temporary neutralise the ongoing downside risk.
All the best and take care
Ironman8848