ETH bouncing off my lower channel trendline purple. It's hard to say if it'll make it back up to the top of the channel.
Perhaps it can only bounce to the dotted red line which is an equilibrium level recently and historically. May not even recover that high though!
78.6% Fib Retrace level also seems to be providing the support (so far, 4-hr RSI deep oversold).
Just watching these levels for now.
Perhaps it can only bounce to the dotted red line which is an equilibrium level recently and historically. May not even recover that high though!
78.6% Fib Retrace level also seems to be providing the support (so far, 4-hr RSI deep oversold).
Just watching these levels for now.
Nota
Channel didn't hold after all, looks like the bears have proven that they are in control now. Switching my focus to the daily charts now, trading shorter time frames is not feasible at this point with increased volatility.Nota
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