ETH has been selling off over the last couple of days. As of today, ETH has reached daily oversold levels on the daily RSI, the first time since the FTX collapse.
The daily RSI being oversold on the bigger assets like ETH and BTC typically offers good risk-reward entries for bounce plays.
To further strengthen the bullish narrative, ETH is currently trading at a very strong diagonal support. I've been looking at this support for a couple of weeks now.
My target is the 2023 top for the highest R/R. One could also use 2000 or 1900 as TP levels. Stop under the daily low.
Keep in mind that this trade is relatively risky since the crypto market is weak at the moment.
The daily RSI being oversold on the bigger assets like ETH and BTC typically offers good risk-reward entries for bounce plays.
To further strengthen the bullish narrative, ETH is currently trading at a very strong diagonal support. I've been looking at this support for a couple of weeks now.
My target is the 2023 top for the highest R/R. One could also use 2000 or 1900 as TP levels. Stop under the daily low.
Keep in mind that this trade is relatively risky since the crypto market is weak at the moment.
Nota
Reversal in play🎯
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Pubblicazioni correlate
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.