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InkyGrip
Mar 21, 2022 7:49 AM

ETHUSDT wants to retest the supply zone Long

Ethereum / TetherUSBinance

Description

The price got a rejection from the supply zone as I told you in the previous analysis.
On the weekly timeframe, the price created a nice candle below the weekly structure and now the market is testing the 0.382 Fibonacci retracement.

On 4h timeframe, the price is testing the previous resistance as new support on 2800$

For a bullish scenario, the price needs to flip the 3k resistance with volume and confirmations, retest the supply zone as new resistance.
In the short term, we could see a new retest of the weekly area.
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Keep in mind.

🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.

Comment

The price could retest the 3k.

Comment

5% since my call

Comment

the price is testing again the weekly resistance.
I want to see a clear breakout from it! 👀

Comment

6% since my idea, now the price is testing the key level on 3k. We need to see a new breakout from that level and confirmations above it.
Comments
AtlasTrades
exceptional ETH/USD analysis, thanks brother, I think up
InkyGrip
@AtlasTrades, you are welcome 🦐
CobraVanguard
proper TA with great summary I like it
InkyGrip
@TheTreeTrader, cheers mate 🦐
UnknownUnicorn15614419
thank you so much for hard work
InkyGrip
@TradingStat, happy to hear that 🦐
FX_Professor
Nice chart and idea, as always. Keep it up
InkyGrip
@FX_Professor, cool buddy
KlejdiCuni
I am watching for the same pattern development here. Thanks
InkyGrip
@KlejdiCuni, cheers my friend
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