After a recently big fall in oil, now we have a retracement to the upside. I'm looking to retouch the 39.5 ~ 40 zone. There is a confluence of 14 moving average and a .50 fibonacci retracement. I'm looking for a big correction to the donwnside. Targets are in the chart
This pair fall until a good supply zone and rebound. Now it breaks a falling wedge and retest the zone. So now I excpect to mor impulse to the upside to the next demand zone about 1.34 target. TP1 1.33 TP2 1.34. Take care
The last strong impulse for the upside now correct the .618 fibonacci level and approach to a supply zone arround 21.10 ~ 21.20 price. I expect a couple of weeks in bounce with TP1 22 TP 23 and eventually if the price action will good a finall TP3 at 25. Will see. Trade safe
Multiple analysis to take the decision to the downside. The Ethereum is below the 50 days moving Average in 4h frame. The las movements were impulse for the donwside. Also there is a Negative divergensi on RSI. The 380 price is a strong resistance and coincide with the .382 fibonnacci from the last movement. The target is 300 ~ 290 zone where I expect to buy.