In my last ETH analysis I talked about the channel that we have been trading in for almost two weeks now, see purple lines.
After the bearish break out occurred, we saw ETH moving to my target of $1400. However, the FOMC meeting had investors pouring back into ETH, making the asset reach almost $1700.
However, ETH failed to break through the top resistance of the channel. This rejection combined with a severely overbought RSI may cause a bearish move.
In that case, I'm looking at the middle purple line for a potential reversal. If this support fails to hold, expect a further sell off towards the bottom blue support line.
After the bearish break out occurred, we saw ETH moving to my target of $1400. However, the FOMC meeting had investors pouring back into ETH, making the asset reach almost $1700.
However, ETH failed to break through the top resistance of the channel. This rejection combined with a severely overbought RSI may cause a bearish move.
In that case, I'm looking at the middle purple line for a potential reversal. If this support fails to hold, expect a further sell off towards the bottom blue support line.
Note
And there's the break out. Entry signal from the bottom support is invalidated.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.