ETH/USD looking bearishETH/USD: trade update
So as we can see the price did break the possible rising wedge that we had on the chart. What we also can see now is that the price did do a retest of that wedge and went down after that. It did another retest of the wedge but still was not able to break the wedge. We can now see that the price still is moving down. I think that we are going to see a drop to at least the 0.382 level of the Fibb and I am waiting for that to happen. Once it does go to that level there are 2 things that can happen.
1) The first thing is that we see a break of that level and then I will be waiting for it to drop a little lower to the zone that is marked as zone of interest. I think that if the 0.382 level is not able to hold than that zone has a higher chance of holding because we saw that it already did hold a few times in the past.
2) The other thing that can happen is that the price touches that zone and reverses to the top side. We do can see that the price did already reverse sometimes on the 0.382 level so it does seem to be forming a support at that level in the short term.
In conclusion:
So I think that we will see a bigger drop happening before we are able to go back up again. I am now waiting for it to go lower to buy more Ethereum.
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Ethusdshort
Ethereum- I still have 3k in focusSince the beginning of November, Eth has started to correct its long term bull trend which only in 2021 brought gains of around 700%.
Although the drop we are in is just a correction to this trend, on medium term it can be seen as a small down trend.
I expect continuation to the down side and I'm focusing on 3k zone for my sell short trades.
Ethereum's price above 4.2k would signal that the correction is over
ETHUSD: Don't Miss the Impulse 🚀If we can breach this main supply we could have a strong run-up towards the seller stops.
Price has done what it needed to trap and create liquidity.
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ETH dip before long continuation..Don’t forget to click on the follow button for more detailed daily analysis. Also if you have any questions please do ask them!
Intraday we are looking short before a longer term move up.
After the recent rally to the top of the parallel channel drawn, we a looking for a dip before the further move. For accurate entry wait for this.
MA's/P channel/ Stoch is all noted. Price direction is noted by the arrows shown.
ETHUSD updated.For more daily detailed analysis, don’t forget to click on the follow button. Also, please ask any questions you may have and I will be happy to answer them.
After our targets were Smashed yesterday we took profit.
Now we are going to look to get short on this current move up, based on our technical analysis.
Price target is shown by our directional arrow, back down to a suitable area for profit taking.
Can Eth drop to 3k?After the last drop, Ethereum rebounded and had a very short-lived rally above 4k.
However, Ethereum, like all crypto market, in fact, is very weak and the price of Ethereum fall back quickly under 4k.
This is a strong bearish sign for me and I expect a new aggressive leg down, this drop can easily extend to 3k zone.
Only if I see strong buying power and Eth above 4.2k I would rethink this scenario
ETH Sell a break setup.Ethereum - Intraday - We look to Sell a break of 3668 (stop at 3744)
Short term bias is bearish.
Short term momentum is bearish.
Posted a bearish Flag formation.
A break of 3670 is needed to confirm the outlook.
3670 has been pivotal.
Previous support, now becomes resistance at 3900.
Our profit targets will be 3451 and 3401
Resistance: 3900 / 4000 / 4050
Support: 3800 / 3670 / 3600
Ethereum sell into a rally.Ethereum - Intraday - We look to Sell at 4203 (stop at 4282)
Rallies continue to attract sellers.
Preferred trade is to sell into rallies.
We look for a temporary move higher.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Our profit targets will be 3977 and 3917
Resistance: 4100 / 4200 / 4250
Support: 4050 / 4000 / 3950