When setting the fib at the breakout point and top of the recent bull move, we see price has fully retraced, finding support at the fib 1.
However, price is also attracted to the Volume profile point of control ( POC ). Which also just happens to align perfectly with the FIb 1.272 level.
it will be interesting to see where price goes should it fall below this lever. I will be watching for the POC and FIB 1.272 level.
Note
If you don't like how I drew the fib above. Putting the FIB 1 at the very bottom of the move gives the same scenario with the POC aligning with the .786.Note
190 area may be a great short if ETH is stopped there.
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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.