AT CryptoScan: ETHUSD The retracement and the potential (1/2)
ETHUSD has not been looked at for a while and Ipicked it up just for a quick look. Previously expected retracement came a little later than expected but it did. And then it was followed by a quick upside.
So, taking the magnitudes of the upside and the downside, it appears that the recent upside had a similar magnitude to the previous. And keeping in line with this, the retracement downside would presumably be the same.
Hence the orange arrow(s) point to the retracement level of about 1600.
For now, it is quite clear that the upside is limited with downside risk rising, as indicated by the MACD and VolDiv.
Expecting retracement to 1600.
So, taking the magnitudes of the upside and the downside, it appears that the recent upside had a similar magnitude to the previous. And keeping in line with this, the retracement downside would presumably be the same.
Hence the orange arrow(s) point to the retracement level of about 1600.
For now, it is quite clear that the upside is limited with downside risk rising, as indicated by the MACD and VolDiv.
Expecting retracement to 1600.
