ETH/USD: trade update
So as we can see the price did break the possible rising wedge that we had on the chart. What we also can see now is that the price did do a retest of that wedge and went down after that. It did another retest of the wedge but still was not able to break the wedge. We can now see that the price still is moving down. I think that we are going to see a drop to at least the 0.382 level of the Fibb and I am waiting for that to happen. Once it does go to that level there are 2 things that can happen.
In conclusion:
So I think that we will see a bigger drop happening before we are able to go back up again. I am now waiting for it to go lower to buy more Ethereum.
If you have any questions feel free to send me a message.
If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments.
Everything you see on my profile is just for educational purposes only.
So as we can see the price did break the possible rising wedge that we had on the chart. What we also can see now is that the price did do a retest of that wedge and went down after that. It did another retest of the wedge but still was not able to break the wedge. We can now see that the price still is moving down. I think that we are going to see a drop to at least the 0.382 level of the Fibb and I am waiting for that to happen. Once it does go to that level there are 2 things that can happen.
- 1) The first thing is that we see a break of that level and then I will be waiting for it to drop a little lower to the zone that is marked as zone of interest. I think that if the 0.382 level is not able to hold than that zone has a higher chance of holding because we saw that it already did hold a few times in the past.
2) The other thing that can happen is that the price touches that zone and reverses to the top side. We do can see that the price did already reverse sometimes on the 0.382 level so it does seem to be forming a support at that level in the short term.
In conclusion:
So I think that we will see a bigger drop happening before we are able to go back up again. I am now waiting for it to go lower to buy more Ethereum.
If you have any questions feel free to send me a message.
If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments.
Everything you see on my profile is just for educational purposes only.
So for now we can see that the price is not able to go and break the support zone on the 0,382 level on the fib for now.
What I am planning on doing now is buying a little Ethereum when it goes and touches that level again. What I am then waiting for is for it to still break that zone and go a little lower to the zone that is drawn up as zone of interest.
When we hit that level I will be looking to buy more Ethereum. For me I will not be looking for it to go closer than that.
If we do even go lower than that I will be looking at it again and see what I will do then. But for now I am going to wait before we hit the zone of interest.