---- Mid-term Analysis for the next coming 4 weeks to 3 months - Based on Daily Chart -------
ETH/USDT: Bullish reversal confirmed
Context The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. There is now a bullish reversal confirmed after having reintegrated 1440
Market configuration
- Graphical Elements : Graphical support = 1170 / 880 Graphical Resistance = 1670 / 1830 /2170
- Mathematical Indicators: EMA ( Exp Moving averages) are support = Bullish RSI indicator (below) is now above 50% = BUllish
- Elliot & Harmonic Wave (Fibonacci): A last drop to draw the wave (v) (c) (4) is now completed - the market is now bouncing off in recovery Fibonacci resistance of the wave = 1670 and 1830 Fibonacci bullish wave target at 2170 Fibonacci bullish wave support at 1170 Fibonacci bearish wave target at 880
Conclusion
Prefered case => As long as 1170 remains support a larger recovery towards 1670 and 1830 (intermediate before 2170 is expected
Alternative case => Breaking 1170, double bottom to 880 will occur
Trade active
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1830 target reached and surpassed a new analysis will be published