Hello everyone, let's look at the 4H ETH to USDT chart, you can see how the price is moving in a downtrend channel, from which exiting at the bottom could result in a strong downward movement in the height of the channel itself.
Let's start by setting goals for the near future that we can include:
T1 = $3,327
T2 = $3,622
T3 = $4,104
AND
T4 = $4863 LONG TERM
Now let's move on to the stop-loss in case of further market declines:
SL1 = $2,903
SL2 = $2580
SL3 = $2166
AND
SL3 = $2166
Looking at the RSI and STOCH indicators, we can see that there is still room to continue the current recovery.
Let's start by setting goals for the near future that we can include:
T1 = $3,327
T2 = $3,622
T3 = $4,104
AND
T4 = $4863 LONG TERM
Now let's move on to the stop-loss in case of further market declines:
SL1 = $2,903
SL2 = $2580
SL3 = $2166
AND
SL3 = $2166
Looking at the RSI and STOCH indicators, we can see that there is still room to continue the current recovery.