ETH - MULTI TIME FRAMES - WARNING DOUBLE TOP IN PROGRESS H4/H1
M1 : Currently below the 38.2% Fib ret (2735) of the 86-4372 rally...
W1 : Currently below the weekly pivot level of 3025
D1 : In a ongoing downtrend channel, still above the clouds
support area. Today's candle is showing, for the time being, a potential
bearish pattern. Wait D1 closing for validation or invalidation !
H4 : Double top formation in progress and currently below TS.
H1 : Double top trigger level @ 2665. A breakout confirmation would
give a technical target @ 2420
M30 : Same than H1 but currently already below the clouds.
M15 : Below the clouds and below TS
M5 : Bullish divergence detected an hour ago, triggered a very small upside
move corrective recovery only..
CONCLUSION : THE DOWNTREND IS STILL INTACT ON ONLY A CLEAR MOVE ABOVE
THE PSYCHOLOGICAL LEVEL OF 3'000 WOULD FORCE A REASSESSMENT OF MY BEARISH
EXPECTED SCENARIO CALLING FOR LOWER LEVELS.
Ironman8848
W1 : Currently below the weekly pivot level of 3025
D1 : In a ongoing downtrend channel, still above the clouds
support area. Today's candle is showing, for the time being, a potential
bearish pattern. Wait D1 closing for validation or invalidation !
H4 : Double top formation in progress and currently below TS.
H1 : Double top trigger level @ 2665. A breakout confirmation would
give a technical target @ 2420
M30 : Same than H1 but currently already below the clouds.
M15 : Below the clouds and below TS
M5 : Bullish divergence detected an hour ago, triggered a very small upside
move corrective recovery only..
CONCLUSION : THE DOWNTREND IS STILL INTACT ON ONLY A CLEAR MOVE ABOVE
THE PSYCHOLOGICAL LEVEL OF 3'000 WOULD FORCE A REASSESSMENT OF MY BEARISH
EXPECTED SCENARIO CALLING FOR LOWER LEVELS.
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.