Hi All,
ETH is pretty much following the direction of its big brother BTC. However, you can see the previous 4hr candle, ETH has surged to right on the 0.236 retrace @ $403.79 and got hit in the face, forming a huge wick on the candle. It signifies that the sellers were able to push the price down significantly. If you are going long, that's certainly not a good sign to see.
If EMA20 does not hold, $342 will probably be the next stop for ETH.
If you like my TA, please don’t forget to "Like" :)
Taiwan Bear
******************************************************************************************
Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.
Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
ETH is pretty much following the direction of its big brother BTC. However, you can see the previous 4hr candle, ETH has surged to right on the 0.236 retrace @ $403.79 and got hit in the face, forming a huge wick on the candle. It signifies that the sellers were able to push the price down significantly. If you are going long, that's certainly not a good sign to see.
If EMA20 does not hold, $342 will probably be the next stop for ETH.
If you like my TA, please don’t forget to "Like" :)
Taiwan Bear
******************************************************************************************
Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.
Some tips for you:
- Set up an entry/exit strategy for every trade, with the ideal risk/reward ratio (2+)
- Understand that every trade carries a risk, and don’t expect you can make profits from every trade
Comment:
ETH now overbought + double top. Expect to drop soon.
Comment:
Updated TA:
