InvestMate|ETH/USD It's cheap, bottoms defendedðē
ðēETH/USD It's cheap, bottoms defended
ðēThe post is a continuation of my earlier thoughts on eth/usd.
ðēIn this post I have sorted out the whole current situation so that everyone can bring something up for themselves.
ðēI will describe in turn everything I have applied.
ðēFirstly, I determined a downtrend channel from where the price turned around and created the current lows.
ðēThen I ran a fibo measurement of the whole downward wave to find interesting price points.
ðēI also measured the waves from the bottom to the current peak in order to find supports.
ðēI determined the current accumulation range we have been in for more than 4 days.
ðēI determined a support zone based on a cluster of two fibo levels 0.236 and 0.5.
ðēI have determined a resistance zone at the 0.618 level of the entire downward wave in conjunction with where the price found previous support.
ðēThe scenario I am playing out is to reach the support zone, disregarding possible corrections along the way.
ðē*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðēThe post is a continuation of my earlier thoughts on eth/usd.
ðēIn this post I have sorted out the whole current situation so that everyone can bring something up for themselves.
ðēI will describe in turn everything I have applied.
ðēFirstly, I determined a downtrend channel from where the price turned around and created the current lows.
ðēThen I ran a fibo measurement of the whole downward wave to find interesting price points.
ðēI also measured the waves from the bottom to the current peak in order to find supports.
ðēI determined the current accumulation range we have been in for more than 4 days.
ðēI determined a support zone based on a cluster of two fibo levels 0.236 and 0.5.
ðēI have determined a resistance zone at the 0.618 level of the entire downward wave in conjunction with where the price found previous support.
ðēThe scenario I am playing out is to reach the support zone, disregarding possible corrections along the way.
ðē*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
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ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
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