#1 Crypto Daily ETH/USD Support By Yearly PP Feb 6 2018
At the moment a long wick candle is being formed piercing
the Yearly pivot point at 600 level which is also a previous
support level. A daily close above the Monthly S1/S/R level
at 760 will expose the next resistance levels at 825 and
above that the Cloud around 900. Bulls would like to see
a return inside the Cloud to shift trend to neutral and wait
for the MACD to rise up.
Overall, price is in a bearish trend but has found support
by the Yearly pp. If it holds, the natural destination up is
the Yearly R1 at 1000. But with strong bearish momentum
it is likely to see more sell offs before that or even a return
back down and taking out of the current low. That would
expose the Monthly S2 at 385 and above that the 480 former
resistance level.
the Yearly pivot point at 600 level which is also a previous
support level. A daily close above the Monthly S1/S/R level
at 760 will expose the next resistance levels at 825 and
above that the Cloud around 900. Bulls would like to see
a return inside the Cloud to shift trend to neutral and wait
for the MACD to rise up.
Overall, price is in a bearish trend but has found support
by the Yearly pp. If it holds, the natural destination up is
the Yearly R1 at 1000. But with strong bearish momentum
it is likely to see more sell offs before that or even a return
back down and taking out of the current low. That would
expose the Monthly S2 at 385 and above that the 480 former
resistance level.
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