Switching over to H1 for a bit. Even though the majority of patterns can't be viewed in full it should provide a clearer reference for those who short-term trade $ETH.
That said a greater buffer will be required when making decisions. I'll do my best to provide accurate readings but we can see from yesterday's post that this can be an issue.
Referencing yesterday's markers we can note that H4 closed below the dotted red line yet still recovered as 50EMA should have been the critical indicator even if only $5 less.
Since a proper hold occurred D1 ended up closing in the opposite direction however not enough to trigger a breakout.
Continued resistance at the descending trendline caused 20EMA to drop below 50EMA creating further sell momentum.
Today's goal would be to avoid a short-term to long-term crossover and close D1 above H1 200EMA, or H4 50EMA.
That said a greater buffer will be required when making decisions. I'll do my best to provide accurate readings but we can see from yesterday's post that this can be an issue.
Referencing yesterday's markers we can note that H4 closed below the dotted red line yet still recovered as 50EMA should have been the critical indicator even if only $5 less.
Since a proper hold occurred D1 ended up closing in the opposite direction however not enough to trigger a breakout.
Continued resistance at the descending trendline caused 20EMA to drop below 50EMA creating further sell momentum.
Today's goal would be to avoid a short-term to long-term crossover and close D1 above H1 200EMA, or H4 50EMA.
