After updating local highs, eth failed to hold higher and then corrected by more than 10%. Ethereum is now trading at $2060, and it is likely that the price will come back to test the level noted above. At this point, I am not sure that eth will have the strength to close higher and go for a renewal of its highs. If the price returns to the area marked on the chart above and tests it as resistance, in addition to that there will be increased volumes, it is more likely that Ethereum will go lower to the marked levels. In case the price reaches the first potential target, it is best to fix part of the position!
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P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Thanks mate. Excellent analysis as always. Do you mean that once it reaches that area, if the volume is increasing at the resistance area that is another signal for you for a possible rejection?
this is top notch analysis now, Im with your view , you miss the last wave up when I told you that it will go up from 2100 to 2280 and shorted but that's ok for a new analysis now your are in sync with the market.
well, that didnt age too well. why people keep charting trades and important info on 1hr chart this i dont get. look at weekly, there is nothing bullish there. better just short at top of resistance line and long at bottom of support trend line