Hey folks, here is my ETH update:
ETHUSD is currently testing 50% fibonacci retrace level and if breached then the road down to $785 with a further possible drop down to $723 is opened. MACD hasn't crossed yet but looks like it is about to "surprise" us. RSI is still upside. On the other hand, Aroon Down is pushing higher which suggest a very soon drop of ETHUSD. Actually, we are at the critical point right now because its not yet apparent which direction ETH chooses to go. IMHO, ETH will continue its road up to the edge of the green triangle. Though, what really bothers me is that Indicators suggest a reversal ---> Downside. I will keep my eyes on this pair. Something is about to happen.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!
ETHUSD is currently testing 50% fibonacci retrace level and if breached then the road down to $785 with a further possible drop down to $723 is opened. MACD hasn't crossed yet but looks like it is about to "surprise" us. RSI is still upside. On the other hand, Aroon Down is pushing higher which suggest a very soon drop of ETHUSD. Actually, we are at the critical point right now because its not yet apparent which direction ETH chooses to go. IMHO, ETH will continue its road up to the edge of the green triangle. Though, what really bothers me is that Indicators suggest a reversal ---> Downside. I will keep my eyes on this pair. Something is about to happen.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!