ETH - possible reversal....
ETH - pretty damn close to meeting my harmonic target - not a textbook defined harmonic but one with a set of retracements I recognised from charting LINK. (Randomly!)
I would expect a rebound from a harmonic which has met support (78.6 of larger move) initially to 50% of the CD leg - i.e. around 0.063, which coincides with the 61.8% fib on the larger move and the longer term downtrend which treats A as a fakeout. However there are various resistances between.
In addition, we are seeing similar oversold levels on this daily chart as we saw at B, and bullish RSI divergence. ADX remains a concern with the bearish trend still evidenced.
I would expect a rebound from a harmonic which has met support (78.6 of larger move) initially to 50% of the CD leg - i.e. around 0.063, which coincides with the 61.8% fib on the larger move and the longer term downtrend which treats A as a fakeout. However there are various resistances between.
In addition, we are seeing similar oversold levels on this daily chart as we saw at B, and bullish RSI divergence. ADX remains a concern with the bearish trend still evidenced.
ملاحظة
Also check out my hourly analysis 
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Come say hi @elisa_crypto on twitter!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.