InvestMate|ETH/USD It's cheap, bottoms defended💲

💲ETH/USD It's cheap, bottoms defended

💲The post is a continuation of my earlier thoughts on eth/usd.

💲In this post I have sorted out the whole current situation so that everyone can bring something up for themselves.

💲I will describe in turn everything I have applied.

💲Firstly, I determined a downtrend channel from where the price turned around and created the current lows.


💲Then I ran a fibo measurement of the whole downward wave to find interesting price points.


💲I also measured the waves from the bottom to the current peak in order to find supports.


💲I determined the current accumulation range we have been in for more than 4 days.


💲I determined a support zone based on a cluster of two fibo levels 0.236 and 0.5.


💲I have determined a resistance zone at the 0.618 level of the entire downward wave in conjunction with where the price found previous support.


💲The scenario I am playing out is to reach the support zone, disregarding possible corrections along the way.

💲*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.

🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀