ETH - Short Term Analysis
Hello Traders, here is an update to my pervious post.
https://www.tradingview.com/chart/ETHUSDT/Wl71qzwT-Eth-Attempting-to-breakout-of-bullflag/
After hitting our price target that was shown over 3 weeks ago, price seems to be stalling out. On the 4H we can that currently we are creating a doji that could signal a reversal to the downside. If this occurs and we are not able to get above our last high here are our targets.
The main target I will be watching is 0.618 around $2,330 which is also in confluence with our yellow trendline (other fibs targets might play a role in short term bounces too). This yellow trendline has been significant as it was old resistance turned into new support. Therefore upon retest it should be continued support.
https://www.tradingview.com/chart/ETHUSDT/Wl71qzwT-Eth-Attempting-to-breakout-of-bullflag/
After hitting our price target that was shown over 3 weeks ago, price seems to be stalling out. On the 4H we can that currently we are creating a doji that could signal a reversal to the downside. If this occurs and we are not able to get above our last high here are our targets.
The main target I will be watching is 0.618 around $2,330 which is also in confluence with our yellow trendline (other fibs targets might play a role in short term bounces too). This yellow trendline has been significant as it was old resistance turned into new support. Therefore upon retest it should be continued support.
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