A quick update on ETHUSD. I've adjusted the Gann Square a bit making the arcs aligned with the lower points (point 1 and 3).
Target 1: 260$, 23.July
Target 2: 235$, 19.July
My latest ideas on XRPUSD and BTCUSD says the same dates.
Here is why (along with my earlier arguments):
- We are clearly in a descending trend currently (along the gann line).
- A possible global descending wedge could appear (a bit early to confirm this!).
- Target 1 is more likely compared to on how much I think BTCUSD will fall.
- Target 1 fits perfect to the bottom line of the descending wedge.
- Target 1 is also where the outer arc hits the fib circle.
- Target 2 is my earlier target which I think also could fit, but less likely.
- Target 2 is where the outer arc hits the global 1.27 fib level.
Currently we're in a rising wedge which could indicate a drop ahead. It is important that the neckline (the red line) holds it down.
Good luck!
Target 1: 260$, 23.July
Target 2: 235$, 19.July
My latest ideas on XRPUSD and BTCUSD says the same dates.
Here is why (along with my earlier arguments):
- We are clearly in a descending trend currently (along the gann line).
- A possible global descending wedge could appear (a bit early to confirm this!).
- Target 1 is more likely compared to on how much I think BTCUSD will fall.
- Target 1 fits perfect to the bottom line of the descending wedge.
- Target 1 is also where the outer arc hits the fib circle.
- Target 2 is my earlier target which I think also could fit, but less likely.
- Target 2 is where the outer arc hits the global 1.27 fib level.
Currently we're in a rising wedge which could indicate a drop ahead. It is important that the neckline (the red line) holds it down.
Good luck!
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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.