As we all know, Ethereum is on a downtrend. But not only Ethereum but also other cryptocurrencies. If we take a closer look at Ethereum, we see that the market has fallen sharply since December 28. Is there really a market crash? Well I don't think so the price has touched a strong support level (2322.59) fib level (0.236) and is regaining strength....
On a Monthly/Weekly TF it seems like the market will be rising again. But im looking for sell opportunities on lower TF's. I got two possibilities first one is that the market will be pushing down for now on or make a push to the upside and form a ABCD Pattern and than drop again. What do you guys think?
Price is bullish and following the trend. It also made a double bottom pattern on fib level 1. If price break through our fib level 0.618 i will head into my trade. Im not into a buy scenario. so if the price keeps going up im not heading into the trade.
At this point im looking for bullish entry. But it might go further to the downside to make a retest on the (daily) trendline and then go back up. Now im waiting for the price to go up to fib level 0.786 and then ill enter my trade.
The market hit our bollinger bands on a daily timeframe what means that its making a move to the upside. On the 1H timeframe the market touched our upper bollinger bands . So im looking for the price to fallback and than enter my trade!