Ironman8848

ETH - MULTI TIME FRAMES - AT A GLANCE - WARNING !

BINANCE:ETHUSDT   Ethereum / TetherUS
M1 : Ongoing bearish price action
W1 : Last week closing level above MBB triggered a corrective move recovery
towards a high so far of 2750. Still below the weekly pivot level @ 2950
and Tenkan Sen @ 3025
D1 : Yesterday's price action triggered a bullish engulfing pattern which breakout
the clouds on the upside...BUT IT DID NOT BREAKOUT THE TENKAN-SEN YET !!
Watch today's closing level as a failure to move and stay above 2650 would confirm a top in place
in this D1 time frame. On the downside, the former clouds resistance (2175-2425) becomes now
the new support area to watch at.
H4 : Still in an ongoing downtrend price action. Recent recovery is still corrective and countertrend.
Facing now a tough resistance area to break (see the thickness of the clouds !!).
Watch clouds on the upside and cluster ( KS , MBB and TS ) on the downside to get clues.
H1 : Short term reversal in progress, 2 successive black candles which broke the former support trend line .
Watch MBB as first support, then 2410, below 2360, 2240 ahead of 2118, the last level being also
the H1 clouds support zone .
M30 : Watch the clouds and the former uptrend support line which becomes now the new resistance to break
M15: Currently testing the top of the clouds. A failure to hold above the clouds would confirm the ongoing trend
reversal in progress.
M5 : Clouds broken, followed by a pullback attempt which failed to recover above the clouds. Watch cluster ( TS , MBB and KS ) ahead of the
clouds resistance.
CONCLUSION : RECENT PRICE ACTION FROM THE LOW SEEN YESTERDAY @ 1728.74 IS A CORRECTIVE MOVE ONLY ND A FAILURE TO CLOSE ON A DAILY
BASIS ABOVE 2372 WOULD CONFIRM A TOP IN PLACE, CALLING FOR LOWER LEVELS !


Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).
https://ironman8848.com/private-analysis/