Hello traders and Happy Sunday. Looking at the weekly, we are now on the 8th consecutive week of all bearish candles. Saying that, 1740, for me, is a huge area of interest. I say this because if the 1740 area acts as support, that could be the start of a reversal, but I am also aware that after so many weeks of straight bearish momentum, a one week pullback would be needed for ethereum to keep moving down. So, weekly candle closes today. Monthly candle closes Tuesday, and all these factors have to be considered, combined with existing price action, to determine ethereum's next move/trajectory. I would expect ethereum, at this point, to push up to the 1900 area, at which point, I will be looking to see if it retests the 1740 area. If 1740 doesn't hold, I have marked on the chart where I would be looking for more long positions. I feel these next few weeks are crucial to getting in on the lowest price for ethereum. All thanks to Big G, my mentor. Trade the trend and remember how awesome trading is...getting paid to wait. (Thxs Raja and Ted at Wicks Don't Lie)
Pip Whisperer
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Pip Whisperer
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.