Hello traders 🐺 .
if noticed I didn't post any thing about the market in last weeks because in my opinion , when market is nervous the best thing to do is get away from the charts and wait for the better opportunity , usually in these cases when you looking for the trade there is high probability of losing your money because in such situation market is full of the trap .
but currently market is trying to recover it self , in this case I want to talk about the ETH :
if the daily chart I think that the ETH is looking for playing AB=CD pattern because currently price is around the weekly support trend line and also is above the daily support box ( blue box ) and if price start to reverse from the current level and break above the previous high , the next target as you can see is around the 0.618 Fibonacci level , if you looking for the long position , you can wait for the break out from the daily descending channel .
This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
if noticed I didn't post any thing about the market in last weeks because in my opinion , when market is nervous the best thing to do is get away from the charts and wait for the better opportunity , usually in these cases when you looking for the trade there is high probability of losing your money because in such situation market is full of the trap .
but currently market is trying to recover it self , in this case I want to talk about the ETH :
if the daily chart I think that the ETH is looking for playing AB=CD pattern because currently price is around the weekly support trend line and also is above the daily support box ( blue box ) and if price start to reverse from the current level and break above the previous high , the next target as you can see is around the 0.618 Fibonacci level , if you looking for the long position , you can wait for the break out from the daily descending channel .
This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .