ETHUSD - Turn Neutral between 3000 and 3880
ETHUSD - Technical analysis
Context: The ETH failed to surpassed directly 4300 (previous analysis : https://www.tradingview.com/chart/ETHUSD/GGYCv9sV-ETH-further-rise-still-expected-close-to-4300/ before penetrating 3500, confirming the alternative case by reaching 3000 area.
Now regarding ETHBTC (hit 0,0850 target) and BTC/USD having reached 43K - difficult to turn Bearish on current level.
Key elements:
RSI on support
MM are resistance
Key fibo at 3000 and 3880
Conclusion:
After the invalidation of the direct rise the mid-term picture is mixed - turn neutral between 3000 and 3880, only 3880 in parallel of BTCUSD 54375 key resistance surpassed would lower the downside risk.
The long-term bullish picture above 2300 remains valid, and the intraday play can buy today to play 3880.
Take care
Context: The ETH failed to surpassed directly 4300 (previous analysis : https://www.tradingview.com/chart/ETHUSD/GGYCv9sV-ETH-further-rise-still-expected-close-to-4300/ before penetrating 3500, confirming the alternative case by reaching 3000 area.
Now regarding ETHBTC (hit 0,0850 target) and BTC/USD having reached 43K - difficult to turn Bearish on current level.
Key elements:
RSI on support
MM are resistance
Key fibo at 3000 and 3880
Conclusion:
After the invalidation of the direct rise the mid-term picture is mixed - turn neutral between 3000 and 3880, only 3880 in parallel of BTCUSD 54375 key resistance surpassed would lower the downside risk.
The long-term bullish picture above 2300 remains valid, and the intraday play can buy today to play 3880.
Take care
Note
Lower part of the neutral band challenged risk of further sell off to 2300TAKE CARE - No marging
We are in risk off mode now
Trade closed: target reached
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.