Before I continue, I'm still bearish at ETHUSD.
the reason is simple, because right now we still inside symetrical channel down.
But,.... not all my follower and our client agree with bearish, so I made this analysis for bullish scenario
You can see we have 2 strong pattern here,
1. Big symetrical channel up
this bullish pattern perform since Mar 01st, and still not broken yet.
If bullish continue, we have a big target with 16% profit projection (no leverage)
2. ABCD fibonacci pattern
previous big bearish candle hit fibonacci 618 support (C point)
and we also have another support at 134 (weak support)
If one of this support able to hold bearish movement, we have 3 bullish target for Ethereum :
151.29 at fibonacci 1.272
153.52 at fibonacci 1.414 and
156.62 at fibonacci 1.618
If you believe bullish will win this "tug o'war", you can buy ETH at :
134.55 at support level,
132.38 at fibonacci support,
Or for more bullish confirmation, we can wait after red channel down break up.
This bullish scenario failed if 132.38 break down
Note : Do not make hurry decission, little late better than little loss.
don't forget to "like" this analysis, if you need more quick update.
Previous analysis
the reason is simple, because right now we still inside symetrical channel down.
But,.... not all my follower and our client agree with bearish, so I made this analysis for bullish scenario
You can see we have 2 strong pattern here,
1. Big symetrical channel up
this bullish pattern perform since Mar 01st, and still not broken yet.
If bullish continue, we have a big target with 16% profit projection (no leverage)
2. ABCD fibonacci pattern
previous big bearish candle hit fibonacci 618 support (C point)
and we also have another support at 134 (weak support)
If one of this support able to hold bearish movement, we have 3 bullish target for Ethereum :
151.29 at fibonacci 1.272
153.52 at fibonacci 1.414 and
156.62 at fibonacci 1.618
If you believe bullish will win this "tug o'war", you can buy ETH at :
134.55 at support level,
132.38 at fibonacci support,
Or for more bullish confirmation, we can wait after red channel down break up.
This bullish scenario failed if 132.38 break down
Note : Do not make hurry decission, little late better than little loss.
don't forget to "like" this analysis, if you need more quick update.
Previous analysis
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.
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.