ETH - Macro Overview WATHOUT !!!Macro outlook remains BULLISH
Previous report we mentioned RSI which broke bearish… It has now reached the 50 retrace which should act as support. Of course it could go lower but as long as we maintain RSI above 50 it's all good.
For now, the price broke bearishly. It is crucial to reclaim back above $2,800 for further upside. If $2,800 acts as resistance then we could easily create a trading range from $2,800-$2,000 and dip as low as $1,600 and still be completely bullish (this will be the ONCE IN A LIFETIME LONG opportunity).
Any trades to be made right now? NO, price looks like it wants to revisit $2,000 again. There are no clear trading setups right now. We’ll rather stay on the sidelines for now and jump in once we see more confluence.