Many things look bearish but more so undecided at this point, hence I would expect sideways movement for some time even though some things have confluence (favorite word to explain things in common) in the bearish direction.
********** If I was to make a call for ETH, I would say there is more downward pressure for the long term because of the strong rejection. ************************
In short:
a) ALT Dominance chart still in the down trend, at best it can go sideways.
b) BTC holds up better than ALTs in a down trend. Last 2 days, BTC found gains and I would expect this to continue.
c) ADX and DI indicator shows in the 4 hrly chart, more down ward pressure
d) RSI hitting 8%, accepting that its oversold, however this doesn't mean it will bounce up quickly
e) Accumulation index is below 0
f) I have ETH still in the downward channel with a strong rejection at the top of it.
ETH WEEKLY Chart: All EMA\SMA above the price, strong rejection.
ETH 3 Day perspective
Price in the strong support range and hence why I expect more sideways movement in the short term. Hence I would wait and observe some more
ALT Dominance chart
BTC Dominance chart (4 HRLY Chart)
BTC Dom. Daily chart
Interesting to note, GOLD has gone up around the same time? 4 HRLY chart
********** If I was to make a call for ETH, I would say there is more downward pressure for the long term because of the strong rejection. ************************
In short:
a) ALT Dominance chart still in the down trend, at best it can go sideways.
b) BTC holds up better than ALTs in a down trend. Last 2 days, BTC found gains and I would expect this to continue.
c) ADX and DI indicator shows in the 4 hrly chart, more down ward pressure
d) RSI hitting 8%, accepting that its oversold, however this doesn't mean it will bounce up quickly
e) Accumulation index is below 0
f) I have ETH still in the downward channel with a strong rejection at the top of it.
ETH WEEKLY Chart: All EMA\SMA above the price, strong rejection.
ETH 3 Day perspective
Price in the strong support range and hence why I expect more sideways movement in the short term. Hence I would wait and observe some more
ALT Dominance chart
BTC Dominance chart (4 HRLY Chart)
BTC Dom. Daily chart
Interesting to note, GOLD has gone up around the same time? 4 HRLY chart
Nota
Chart Update: Notice has the fib.fan lines and channel fib. levels are respected. Next going long target is 145 or less. It might rally a little because there is now selling exhaustion coming in.
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.