ETHUSD - Road to success
__________________________________________________________________________________________________________________________________________________________________
Hello, my dear traders investors and community, as the whole stock market as well as the crypto market is panicking because of volatility that hasn't been seen since years it is important to look on the opportunities such volatility can bring us and don't get over panicky.
This analysis is for the middle to long-term showing the possible opportunities ethereum can provide to us. On the daily view, I detected some interesting signs which are worth to look at!
__________________________________________________________________________________________________________________________________________________________________
Ethereum provided us a big wide range in which it is trading all over 2019 till now, you can see the range market with the dashed red trend-lines on the bottom and top of the range and also with the turquoise double-arrow seen in my chart.
The bottom of the range is very important as it holds the whole structure intact. When this bottom gets crossed bearishly down I don't see much of a continuation of the up-trend! But as for now, it seems like the price is stabilizing above the bottom of the range.
__________________________________________________________________________________________________________________________________________________________________
The last days we saw a huge volatile break-down because of the corona fears, it must be said that this was a panic reaction of the markets! There is a possibility to see a stabilization in price.
__________________________________________________________________________________________________________________________________________________________________
RSI: The RSI touched a first time the level of 22.5 before providing us a healthy up-trend. Now we see exactly the same valley in the RSI as you can see marked with the green and orange circles in my chart!
__________________________________________________________________________________________________________________________________________________________________
Bear-Trap: Ethereum fell down and made the low at 88.20 USD which provided an immediate pull-back to the break-down level at 135. This could be the beginning of a new trend otherwise it can fall still more and continue
__________________________________________________________________________________________________________________________________________________________________
61.8 % Retracement: The 61.8 % Retracement in this structure is very very very important! Because it is also marking the last point before the huge bear-move down happened! It is the last neutral point in this structure. When a decent uptrend develops I see the
next resistance at this level as you can see marked in my chart!
__________________________________________________________________________________________________________________________________________________________________
Otherwise, there is still a possibility tofall to lower levels, I won't underline the bullish scenario 100% for sure, but for now, they're coming to some bullish signs which shouldn't be ignored.
Also, it is important in such volatile times to wait for a confirmation of the developing trend. Wise traders always wait for confirmation in the markets.
__________________________________________________________________________________________________________________________________________________________________
Thanks for watching! Feel free to leave a like and follow for more market insights! All the best!
Information provided is only educational and should not be used to take action in the markets.
__________________________________________________________________________________________________________________________________________________________________
Hello, my dear traders investors and community, as the whole stock market as well as the crypto market is panicking because of volatility that hasn't been seen since years it is important to look on the opportunities such volatility can bring us and don't get over panicky.
This analysis is for the middle to long-term showing the possible opportunities ethereum can provide to us. On the daily view, I detected some interesting signs which are worth to look at!
__________________________________________________________________________________________________________________________________________________________________
Ethereum provided us a big wide range in which it is trading all over 2019 till now, you can see the range market with the dashed red trend-lines on the bottom and top of the range and also with the turquoise double-arrow seen in my chart.
The bottom of the range is very important as it holds the whole structure intact. When this bottom gets crossed bearishly down I don't see much of a continuation of the up-trend! But as for now, it seems like the price is stabilizing above the bottom of the range.
__________________________________________________________________________________________________________________________________________________________________
The last days we saw a huge volatile break-down because of the corona fears, it must be said that this was a panic reaction of the markets! There is a possibility to see a stabilization in price.
__________________________________________________________________________________________________________________________________________________________________
RSI: The RSI touched a first time the level of 22.5 before providing us a healthy up-trend. Now we see exactly the same valley in the RSI as you can see marked with the green and orange circles in my chart!
__________________________________________________________________________________________________________________________________________________________________
Bear-Trap: Ethereum fell down and made the low at 88.20 USD which provided an immediate pull-back to the break-down level at 135. This could be the beginning of a new trend otherwise it can fall still more and continue
__________________________________________________________________________________________________________________________________________________________________
61.8 % Retracement: The 61.8 % Retracement in this structure is very very very important! Because it is also marking the last point before the huge bear-move down happened! It is the last neutral point in this structure. When a decent uptrend develops I see the
next resistance at this level as you can see marked in my chart!
__________________________________________________________________________________________________________________________________________________________________
Otherwise, there is still a possibility tofall to lower levels, I won't underline the bullish scenario 100% for sure, but for now, they're coming to some bullish signs which shouldn't be ignored.
Also, it is important in such volatile times to wait for a confirmation of the developing trend. Wise traders always wait for confirmation in the markets.
__________________________________________________________________________________________________________________________________________________________________
Thanks for watching! Feel free to leave a like and follow for more market insights! All the best!
Information provided is only educational and should not be used to take action in the markets.
__________________________________________________________________________________________________________________________________________________________________
Note
UPDATE ANALYSIS: The ETHEREUM bears got finally trapped within the range and the bullish volume reversed the whole trend in the other direction.Everything that came after this transformative price move turned out as mentioned and ETHEREUM emerged with a significant price action in the other direction.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.