We have to start over in ETHUSD.
It seems there's a confluence of indicators in the 160-170. That zone contains prior highs from Jan and Feb and the late August low. The 160-170 area is also the location of a diagonal Fib speed resistance line. If ETH can't hold up here, then it may be a repeat of July. In that case, ETHUSD broke above the Fib speed line and then failed. Once ETHUSD came back down below that line, a big move lower started four days later.
Bottom Line: When it comes to ETHUSD, it feels like less is more. The less we say, the better.
It seems there's a confluence of indicators in the 160-170. That zone contains prior highs from Jan and Feb and the late August low. The 160-170 area is also the location of a diagonal Fib speed resistance line. If ETH can't hold up here, then it may be a repeat of July. In that case, ETHUSD broke above the Fib speed line and then failed. Once ETHUSD came back down below that line, a big move lower started four days later.
Bottom Line: When it comes to ETHUSD, it feels like less is more. The less we say, the better.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.