ETH - 61.8 % FIBONACCI FILLED @ 2180...
M1 : Ongoing bearish long term price action in progress !!
W1 : Still above MBB but already below KS, W1 closing will be also
very important to watch at
D1 : In a ongoing downtrend channel and below the clouds...
H4 : Clouds has so far, worked perfectly well in rejecting all upside breakouts
of the clouds. Currently below the cluster and the clouds too.
H1 : Low seen @ 2'180 which is the 61.8% Fib ret of the 1729 -2910 rally.
Currently attempting to upside breakout the MBB with slightly above KS which if broken
would neutralise slightly the ongoing downside risk.
M30 : RSI bullish divergence triggered a recovery ! Above the cluster but still below the clouds resistance; expectation for a very short term
recovery which looks pretty limited for the time being towards the 2400 area.
M15 : Clouds breakout in progress, wait for M15 closing level to validate this potential breakout and wait
at least another closing level above the clouds (warning of a bull trap !)
M5 : In a ongoing very short term uptrend, above the clouds and the clusters..
CONCLUSION :
GLOBAL PICTURE REMAINS BEARISH !!! THE TREND IS YOUR FRIEND.
ETH REMAINS A SELL ON RALLY ON STRATEGIC VIEW.
ANY LONG EXPOSURE SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS
Have a nice Sunday.
Have fun, take care
All the best
Ironman8848
W1 : Still above MBB but already below KS, W1 closing will be also
very important to watch at
D1 : In a ongoing downtrend channel and below the clouds...
H4 : Clouds has so far, worked perfectly well in rejecting all upside breakouts
of the clouds. Currently below the cluster and the clouds too.
H1 : Low seen @ 2'180 which is the 61.8% Fib ret of the 1729 -2910 rally.
Currently attempting to upside breakout the MBB with slightly above KS which if broken
would neutralise slightly the ongoing downside risk.
M30 : RSI bullish divergence triggered a recovery ! Above the cluster but still below the clouds resistance; expectation for a very short term
recovery which looks pretty limited for the time being towards the 2400 area.
M15 : Clouds breakout in progress, wait for M15 closing level to validate this potential breakout and wait
at least another closing level above the clouds (warning of a bull trap !)
M5 : In a ongoing very short term uptrend, above the clouds and the clusters..
CONCLUSION :
GLOBAL PICTURE REMAINS BEARISH !!! THE TREND IS YOUR FRIEND.
ETH REMAINS A SELL ON RALLY ON STRATEGIC VIEW.
ANY LONG EXPOSURE SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS
Have a nice Sunday.
Have fun, take care
All the best
Ironman8848
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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.