---- 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
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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