ETHUSD CAN BUYERS HOLD THIS LOW??
Updated
Price has retraced lower of the past few days and we now see price getting into an interesting zone for the buyers.
Price action around 3524.45 - 3375.80 will be very important as a break below this zone on the higher timeframe could shift the short term bias towards bearish trend.
In the scenario of breaks lower we could look at levels around 2904 for possible retest of the zone.
Price action around 3524.45 - 3375.80 will be very important as a break below this zone on the higher timeframe could shift the short term bias towards bearish trend.
In the scenario of breaks lower we could look at levels around 2904 for possible retest of the zone.
Note
Sellers making a huge retracement lower with price now approaching the 61.8 fib level at around (2901).This marks a 25% correction so far.
Tracking price action on the 1H TF as we move lower
Note
Bears got some rejection off the 50% fib level around 3128.90 Will be interested in seeing if the buyers can break the high around 3657.65
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