ETH target levels for this heavy sell-off
Updated
hi friends.
so finally we lose 1700 and 1300 supports :(
bad news for ETH.and bad fundamental news for it too
where MERGE upgrade overdued.
no problem we see an ending wave C and we are compliting it.
but remember these levels are good for buy but we should pay attention to
macroeconomic news and happens.
if inflation in USA and EUROPE dont go down wave C will be extend by time...
but we consider inflation record a high and start to go down.
after that we have a strong support that is overlaping 4 fibo levels for W(e) from wave C
this overlap area including:
1)38.2% retracement from past impulsive W(1).
2)200% retracement of W(B) between W(A) and W(C) that show in (a b c in circle)
3)261.8% retracement of W(b) from W(C) or W( a b c d e)
4)161.8% trend based fibo from W(a) projection from end of W(b) that shows W(e) levels.
this support level is in price around 980 $ and if we lose it too we can go lower to around
620$ support.we have fibo overlap levels here.
these levels are 361.8% & 200% and 50% from past impulsive wave.
best strategy to buy in these levels and conditions is to buy 3 step or 4 step
if we see signs of end correction we can buy a step.
i think these levels are so amazing levels to buy step by step.
be careful of your capital
(NOTE!!!
this post is not trade or invest advise.
its just my own opinion.
please invest in your own strategy and dont forget to set stop loss.)
thank you for support.
so finally we lose 1700 and 1300 supports :(
bad news for ETH.and bad fundamental news for it too
where MERGE upgrade overdued.
no problem we see an ending wave C and we are compliting it.
but remember these levels are good for buy but we should pay attention to
macroeconomic news and happens.
if inflation in USA and EUROPE dont go down wave C will be extend by time...
but we consider inflation record a high and start to go down.
after that we have a strong support that is overlaping 4 fibo levels for W(e) from wave C
this overlap area including:
1)38.2% retracement from past impulsive W(1).
2)200% retracement of W(B) between W(A) and W(C) that show in (a b c in circle)
3)261.8% retracement of W(b) from W(C) or W( a b c d e)
4)161.8% trend based fibo from W(a) projection from end of W(b) that shows W(e) levels.
this support level is in price around 980 $ and if we lose it too we can go lower to around
620$ support.we have fibo overlap levels here.
these levels are 361.8% & 200% and 50% from past impulsive wave.
best strategy to buy in these levels and conditions is to buy 3 step or 4 step
if we see signs of end correction we can buy a step.
i think these levels are so amazing levels to buy step by step.
be careful of your capital
(NOTE!!!
this post is not trade or invest advise.
its just my own opinion.
please invest in your own strategy and dont forget to set stop loss.)
thank you for support.
Note
so....we touch first support area at 895$ and now we see demand in this area.
please be careful and save your profits.
Trade closed: target reached
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.