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ETH has a perfect HMA sell signal on both ETH/USD and ETH/BTC, which indicates extreme downside pressure. I would be looking at 180$ as the first area from which ETH can genuinely bounce or perhaps even bottom as we have clusters of support around that region:
- 200MA
- the mean of the weekly bollinger band
- weekly bullish breaker
This also implies BTC has some more downside as well, I would be looking at anywhere between 7.1k - 7.5k before the Bitcoin sell - off should come to an end.
Hope you found this analysis useful, take care.
ETH has a perfect HMA sell signal on both ETH/USD and ETH/BTC, which indicates extreme downside pressure. I would be looking at 180$ as the first area from which ETH can genuinely bounce or perhaps even bottom as we have clusters of support around that region:
- 200MA
- the mean of the weekly bollinger band
- weekly bullish breaker
This also implies BTC has some more downside as well, I would be looking at anywhere between 7.1k - 7.5k before the Bitcoin sell - off should come to an end.
Hope you found this analysis useful, take care.
Comment:
ETH/BTC pair
Comment:
On lower time - frames ETH/USD is very clearly in a bear flag
Comment:
Target reached
Trade closed manually:
Absolutely did not expect this but the directional bias was very clearly right and I made an absolute killing with my shorts. Thread closed.