Back in January when ETH had closed above its major trend resistance since November we had see a 60% increase within a few days.
ETH is currently sitting above its major trend resistance.
If we can get a daily closure above this resistance level at $1580 - $1600,
we can potentially see attempts to test our fib extension levels.
If you have missed out on the bull ride for ETH, do not fomo enter. Wait for confirmation and retest!
If price closes back below resistance (new support) we are back at a critical decisive point. Or a no trade zone.
ETH is currently sitting above its major trend resistance.
If we can get a daily closure above this resistance level at $1580 - $1600,
we can potentially see attempts to test our fib extension levels.
If you have missed out on the bull ride for ETH, do not fomo enter. Wait for confirmation and retest!
If price closes back below resistance (new support) we are back at a critical decisive point. Or a no trade zone.
Note
Entry at retest:Trade active
Entry: 1600SL: Adjusted to 1655
Note
Possible Scenario :
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.