M1 : Ongoing bearish long term price action in progress !!
W1 : Still above MBB but already below KS, W1 closing will be also
very important to watch at
D1 : In a ongoing downtrend channel and below the clouds...
H4 : Clouds has so far, worked perfectly well in rejecting all upside breakouts
of the clouds. Currently below the cluster and the clouds too.
H1 : Low seen @ 2'180 which is the 61.8% Fib ret of the 1729 -2910 rally.
Currently attempting to upside breakout the MBB with slightly above KS which if broken
would neutralise slightly the ongoing downside risk.
M30 : RSI bullish divergence triggered a recovery ! Above the cluster but still below the clouds resistance; expectation for a very short term
recovery which looks pretty limited for the time being towards the 2400 area.
M15 : Clouds breakout in progress, wait for M15 closing level to validate this potential breakout and wait
at least another closing level above the clouds (warning of a bull trap !)
M5 : In a ongoing very short term uptrend, above the clouds and the clusters..
CONCLUSION :
GLOBAL PICTURE REMAINS BEARISH !!! THE TREND IS YOUR FRIEND.
ETH REMAINS A SELL ON RALLY ON STRATEGIC VIEW.
ANY LONG EXPOSURE SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS
Have a nice Sunday.
Have fun, take care
All the best
Ironman8848
W1 : Still above MBB but already below KS, W1 closing will be also
very important to watch at
D1 : In a ongoing downtrend channel and below the clouds...
H4 : Clouds has so far, worked perfectly well in rejecting all upside breakouts
of the clouds. Currently below the cluster and the clouds too.
H1 : Low seen @ 2'180 which is the 61.8% Fib ret of the 1729 -2910 rally.
Currently attempting to upside breakout the MBB with slightly above KS which if broken
would neutralise slightly the ongoing downside risk.
M30 : RSI bullish divergence triggered a recovery ! Above the cluster but still below the clouds resistance; expectation for a very short term
recovery which looks pretty limited for the time being towards the 2400 area.
M15 : Clouds breakout in progress, wait for M15 closing level to validate this potential breakout and wait
at least another closing level above the clouds (warning of a bull trap !)
M5 : In a ongoing very short term uptrend, above the clouds and the clusters..
CONCLUSION :
GLOBAL PICTURE REMAINS BEARISH !!! THE TREND IS YOUR FRIEND.
ETH REMAINS A SELL ON RALLY ON STRATEGIC VIEW.
ANY LONG EXPOSURE SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS
Have a nice Sunday.
Have fun, take care
All the best
Ironman8848
