EthereumUpdated ETH USD Breakout of pennant/ continuation of downtrend
Bullish Indicators:
MACD Crossover on the Daily
Bullish Divergence Found on the 4hr
On the hourly the cloud resistance is being tested and the Tenkan has crossed the Kijun,
a breakout of this cloud and I will take a long position.
We tested the 88 fib and bounced off of it on Sep 18th
1st Target: 225
2nd Target: 243
3rd Target: 300
Bearish Indicators:
The trend remains below the clouds on the daily
The Tenkan remains below the Kijun
Should it break below the pennant I expect to see the price reach ~151 before bouncing.
MACD Crossover on the Daily
Bullish Divergence Found on the 4hr
On the hourly the cloud resistance is being tested and the Tenkan has crossed the Kijun,
a breakout of this cloud and I will take a long position.
We tested the 88 fib and bounced off of it on Sep 18th
1st Target: 225
2nd Target: 243
3rd Target: 300
Bearish Indicators:
The trend remains below the clouds on the daily
The Tenkan remains below the Kijun
Should it break below the pennant I expect to see the price reach ~151 before bouncing.
Note
Bear flag forming, wait for confirmation as we break down below the fib.
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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.