Called the ETH Short! What's the Next Target?
Using our latest indicator "Wave Fusion" combined with support/resistance lines enabled us to call the ETH short and catch the recent drop! On the ETH 1hr chart, you can see I've drawn various support/resistance levels combined with my Wave Fusion indicator below. In the past, this indicator has show to be very accurate with calls (rocket symbol the long from 1172 to 1229) and the red shaded area called the short (from 1229 to the current level of 1167). By combining the resistance level of 1229 and the short indication we received, we were able to accurately take a short position with our stop just above the recent high.
Right now I'm looking at 1150 as being the next micro support (based off that level holding on the 23rd) and 1098 being the major support (as it's held multiple times in the past). I'll be looking for Wave Fusion to post a buy signal (green shaded area, green diamond, rocket, or moon) as ETH gets close to either support level. If we have that, we can be more confident in our trade until we reach that 1229 resistance.
If you have any questions on the indicators mentioned here, or how to use support/resistance lines, please comment below, send me a DM, or check any of my links next to my profile picture. I also released a video on how to use the Wave Fusion indicator on my YT.
Thanks for reading!
Right now I'm looking at 1150 as being the next micro support (based off that level holding on the 23rd) and 1098 being the major support (as it's held multiple times in the past). I'll be looking for Wave Fusion to post a buy signal (green shaded area, green diamond, rocket, or moon) as ETH gets close to either support level. If we have that, we can be more confident in our trade until we reach that 1229 resistance.
If you have any questions on the indicators mentioned here, or how to use support/resistance lines, please comment below, send me a DM, or check any of my links next to my profile picture. I also released a video on how to use the Wave Fusion indicator on my YT.
Thanks for reading!
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