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Retrace

Eth recent price action. and coming. in detail. Cam and CPRLooking at eth. from large to small. We have had our monthly pivot tested. and monthly L4 broken. keep in mind we are still in our linear regression channel and this pullback is still very reasonable. it was the pump that wasnt. now mean has been tested. Lets move to the weekly on the right. we broke the L4 and hit BOTH L5 L6 breakdown targets. a new weekly comes in on todays close and a new Pivot point. that point is the reversion to mean. and the coming weekly price action will confirm if we go for monthly Break targets or not. this is the similar reading to BTC and other things in other markts
by Gunslinger2005
Confirmed EU USD break out of a 10 year lasting downtrend?Is this a confirmed EU USD break out of a 10 year downtrend? The trend line connecting the highs since 2011 seems to be broken to the upside at the end of last July. That was about time considering the RSI (below) and price divergence developing for the last 2 years. How many weeks it may take to get to a 50% retrace from the May 2014 high to the low of 2016-2017, if this ushers in a trend reversal, is a big question, especially given the current global economics. It is now at the top of a preliminary drawn channel at the right, where it might as well pop out. But a decent back test of the trend line also has not yet come to pass at this time... Might it reach the 50%, a continuation to the .618, and a bit above, seems obvious. When 127.5 , a significant support/resistance level, is breached and confirmed, a target of (almost) 140 and then 150 might be next because these levels are both fib-nodes (1 and 1.272) and significant resistance levels looking left. But tomorrow, it can all be different, and it will be, a lot, or just a little. Thanks for your time!
ELong
by GuidoN
Into the latticeI feel as though we have lost confidence in the 230's, which is a shame as it would have been super bullish to hold that valuation. alas, we must move forward despite the direction. Let's say we fall for a bit, what shall occur. Well as you can see, we have a strong lattice of long term post covid support meeting with previous descending resistance lines, each of which requiring confirmation (assuming we dont blow right through them in which case feck your confirmation) Considering the fact that for 2 dumps in a row (June 2nd and June 11th) we transcended the 230's, albeit very shortly, I am going to assume we wont spend much time within the 220's given how crypto usually performs. If we break 230's again, I would just write the 220's off and start your accumulation in the 210's. Set some low limits, maybe some "get-me-lucky's" that only get filled during huge dumps, because as we have seen before in crypto, momentum downwards sometimes just meas more momentum upwards. Now, if we hit the 200's that is when we will have to take further analysis. In my chart, I mention it not necessarily being bearish. This is true because of a couple factors, both psychological and fundamental. 200 is a lovely round number, and the human psyche gets drawn to it like a moth to a flame. It will be valued, and any time spent below it (within reason) will likely be nano-term. What will matter more at that point is how we bounce, because let me tell you: Any retrace to the 200 level will be eaten up quicker than you can say "stop loss". If you are shorting, I would set a trigger no higher than 235.45, however I am always hesitant with setting stops too early before I get a grasp on the strength. Sometimes we just float downwards lazily and the short wouldnt even be worth the stress. But I dont think we will trade 240's (in a healthy way) again until we have re-confirmed that <230 is off limits, which it may very well not be. Cheers lads
COINBASE:ETHUSD
by BingoMoney
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