ETH Daily TA Neutral Bullish
ETHUSD daily guidance is neutral with a *bullshit* bias. Recommended ratio: 60% ETH, 40% Cash.
*SUNDAY SCARIES WATCH. Russia has been notifying all Russian citizens in Kherson (Ukraine) to evacuate immediately due to the threat of impending "terrorist attacks" by Ukrainians. A few weeks ago, Putin announced that Russia officially recognizes Kherson and three other territories in Ukraine as annexed territories of Russia. This is yet another example of Russian war engineering to justify a continued and intentional escalation of the types of attacks they launch on Ukraine. The Chinese Communist Party has concluded their twice-a-decade Congress and reshuffled their Politburo and central committee to feature more Xi loyalists in preparation for his third consecutive five-year presidency. Speculators view this reshuffling as a signal that China is readying to formally attack Taiwan in the coming months. Through a war games lens, two full scale wars in different parts of the world would diminish the magnitude of a counteroffensive by the US and NATO, something military strategists on all sides are likely aware of. Key Upcoming Dates: S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.*
Price is currently trending up at ~$1310 as it continues to trend sideways along $1270 support for what is now thirty three consecutive sessions. Volume is currently Low (moderate) and on track to favor buyers for a second consecutive session if it can close today's session in the green. Parabolic SAR flips bullish just below the 50 MA ($1408) at $1355, this margin is bullish at the moment. RSI is currently trending up at 46.5 as it approaches the upper trendline of the Symmetrical Triangle from February 2020 at ~52 as resistance. Stochastic crossed over bullish in today's session and is currently trending up at 63 as it continues to test 46.76 support. MACD remains bullish and is currently trending up slightly at -19, the next resistance is at 28. ADX is currently trending down slightly at 29 as Price continues to trend sideways, this is neutral at the moment.
If Price is able to push higher here then it will likely retest the 50 MA at ~$1400 as resistance which is just below $1427 resistance. However, if Price breaks down here, it will likely retest $1270 minor support before potentially heading lower to
1K minor support. Mental Stop Loss: (one close below) $1269.54.
*SUNDAY SCARIES WATCH. Russia has been notifying all Russian citizens in Kherson (Ukraine) to evacuate immediately due to the threat of impending "terrorist attacks" by Ukrainians. A few weeks ago, Putin announced that Russia officially recognizes Kherson and three other territories in Ukraine as annexed territories of Russia. This is yet another example of Russian war engineering to justify a continued and intentional escalation of the types of attacks they launch on Ukraine. The Chinese Communist Party has concluded their twice-a-decade Congress and reshuffled their Politburo and central committee to feature more Xi loyalists in preparation for his third consecutive five-year presidency. Speculators view this reshuffling as a signal that China is readying to formally attack Taiwan in the coming months. Through a war games lens, two full scale wars in different parts of the world would diminish the magnitude of a counteroffensive by the US and NATO, something military strategists on all sides are likely aware of. Key Upcoming Dates: S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.*
Price is currently trending up at ~$1310 as it continues to trend sideways along $1270 support for what is now thirty three consecutive sessions. Volume is currently Low (moderate) and on track to favor buyers for a second consecutive session if it can close today's session in the green. Parabolic SAR flips bullish just below the 50 MA ($1408) at $1355, this margin is bullish at the moment. RSI is currently trending up at 46.5 as it approaches the upper trendline of the Symmetrical Triangle from February 2020 at ~52 as resistance. Stochastic crossed over bullish in today's session and is currently trending up at 63 as it continues to test 46.76 support. MACD remains bullish and is currently trending up slightly at -19, the next resistance is at 28. ADX is currently trending down slightly at 29 as Price continues to trend sideways, this is neutral at the moment.
If Price is able to push higher here then it will likely retest the 50 MA at ~$1400 as resistance which is just below $1427 resistance. However, if Price breaks down here, it will likely retest $1270 minor support before potentially heading lower to
1K minor support. Mental Stop Loss: (one close below) $1269.54.
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