QubitLife

Ethereum: Analysis using Ichimoku 08/06/2020

Long
BITSTAMP:ETHUSD   Ethereum
H4
The price has tested the Ichimoku cloud, pointing to a local correction. Visually, you can see the correction model in the form of a triangle.
RSI is in an undefined state.
Conclusion:
We recommend buying from a key Fibonacci level of 76.4%.
H1
The price is trading in the range, fixed above the downtrend line and the Ichimoku cloud. RSI is near the overbought level, which indicates the imminent start of a local correction for the formed initial impulse.
Conclusion:
We recommend buying from key Fibonacci levels of 61.8% and 50%.

Good luck!

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