ETHUSD: The pair is at an inflection point.

Nov 1, 2019

ETHUSD: The contract is into dominant down trend. The RSI is taking resistance at the bear market extreme with a NR formation. 196.50 is a strong pivot level. The contract needs to register a close above it to establish a trend change (as a double bottom is noticed). However any failure to move above 196.50 will lead to resumption of the trend down again. The probable southward targets are 152, 140 & 134.