JeanJean1983

ETH/USDT: Turn Neutral between 960 & 1175

JeanJean1983 Premium Updated   
BINANCE:ETHUSDT   Ethereum / TetherUS
---- Short-term Analysis for the next coming days - Hourly Chart (LOG)-------

ETH/USDT: Turn Neutral between 960 & 1175

Context
- The ETH reversed up above yearly key support at 880 before drawing a start of bullish reversal
- However the recent hours jeopardize the bullish reversal by reintegrating 1075 - Turn neutral


Market configuration

- Graphical Elements :
Graphical Resistance = 1175 & 1380
Graphical Support = 880 & 795

- Mathematical Indicators:
EMA ( Exp Moving averages) are crossing down ( bearish cross) = Bearish
RSI indicator (below) is back in negative area = Bearish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (c) has been already reached = 1380
Fibonacci resistance of the wave in progress = 1175
Fibonacci support of the wave in progress = 960
Fibonacci Bearish Target = 795


Conclusion

Today the market is progressing the previous pivot level at 1075 jeopardizing the bullish reversal.

Turn neutral between 960 & 1175, only a break of those level would confirm a clear directional
Trade active: Upside confirmation level at 1115 surpassed - bullish move confirmed

CIO & Head of market research (Automata - Akt.io)

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