ETHUSD Analysis (29th April 2024)

Crypto Analysis (28th April 2024)

ETHUSD Analysis

On the 4 hour Timeframe, Price action made a bullish Change of Character after a heavy retracement on ETH. In the process, a new 4 hour bullish FVG has been formed.

Ideally, I want to see price pull back to the 3282 level to retest the 4 hour minor resistance level it broke out off before creating confirmations on the 15 minute or the 5 minute to go higher. This is in line with retesting the bullish FVG created as well.

However if price action fails to continue bullish and breaks past 3074 with a body candle close, I will more inclined to look for sells using the break and retest strategy, ideally with a 15 minute timeframe confirmation using Change of Character or a bearish engulfing candle, targeting 2868 level.

Commentaire:

ETHUSD Analysis Update

We have retested the 4 hour Resistance zone, and on the 15 minute, we have created a bullish CHOCH.

Now All i have to wait for is wait for a body candle close above and a retest of the bullish CHOCH or the 15 minute OB to continue the Buys towards 3480 level