ETH-USD
ETHUSD bullish breakout | 10th FebPrice has recently broken out of the descending trendline and near buy entry level of 3043.53 which is also 23.6% Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the take profit level of 3641.97 which is also 50% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.
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BTC Accumulation - Ranging for 6 to 8 weeksBTC is in a precarious and slow position. Affected majorly be the larger economy, rising interest rates in March, instability in Ukraine and general Corona recovery but weak economy - we're going to get thrown around.
I would expect BTC to stay range bound between the hard tops at 39-40k and the hard low at 30-25k. This will give a middle range and a no entry area for me in the 35-36k area. When in the middle, you are truly gambling with entries and exits.
I'm currently sat 95% in cash and being patient whilst I wait and be greedy for my entries on the low side, or shorting on the highside.
On smaller time timeframes like the hourly, BTC hit its 0.5 Fibonacci level from its recent push down and rejected hard. This doesn't give me confidence.
We're in accumulation territory. Use this time well.
💡Don't miss the great buy opportunity in ETHUSD @ethereumTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (3160.51).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 66.
Take Profits:
TP1= @ 3326.50
TP2= @ 3412.67
TP3= @ 3535.56
TP4= @ 3622.18
TP5= @ 3713.83
SL= Break below S2
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💡Don't miss the great buy opportunity in ETHUSD @ethereumTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (3160.51).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ETHUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 66.
Take Profits:
TP1= @ 3326.50
TP2= @ 3412.67
TP3= @ 3535.56
TP4= @ 3622.18
TP5= @ 3713.83
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Short-term selling opportunities on ETHETHUSD is currently in a downtrend on the H1 timeframe.
In the end of last year we saw a downside impulse which led to a consolidation.
Now, we're looking for the end of this pullback and another downside move.
The first target will be 3523$
Right now, price is inside of a sell zone and if we see a breakout above 4000$ then this setup won't be valid.
We will be following the development closely and in case of any changes we will have to adjust our targets!
ETH after short correction target is cup & handle levelETH should find good support at Fib 0.382 or 0.5 levels of present impulse wave, where it can get a good momentum to move up to Cup & Handle Level. Next stop can be around 6200 USD, Fib retracements also indicates this level. After yesterday liquidation funding rate looks better and RSI clear from oversold area.