Our global view on ETHUSD is bullish but with a lot of caution. The rise since end of February is nothing but impressive, with the 187 peak not so high when compared to 166 previous interim top. Nevertheless,most rises show five wave advances,which is the fingerprint of an underlying bull trend.
In this confusing picture, current rise looks suspect regarding Elliott wave principles. It is hard to count an impulsive sequence. Furthermore, momentum is still negative and short term technical already in overstretched territory. In such context, the 168 area, which is a mix of one horizontal resistance with two upper line of channels may well offer a strong resistance. A strong and decisive break above would make TTH more comfortable with its bullish view.
The TTH team is pleased to announce the grand opening of its Slack team. You will share trading ideas with our community, improve your trading skills, benefit from live intraday technical analysis and strategies. Video sessions with TA teaching and concrete cases are on the agenda too.
Welcome bonus with a free trial
Link to the : Slack team
If you want a preview of our analyses,
follow us on Twitter
follow us on : Facebook
follow us on : LinkedIn
In this confusing picture, current rise looks suspect regarding Elliott wave principles. It is hard to count an impulsive sequence. Furthermore, momentum is still negative and short term technical already in overstretched territory. In such context, the 168 area, which is a mix of one horizontal resistance with two upper line of channels may well offer a strong resistance. A strong and decisive break above would make TTH more comfortable with its bullish view.
The TTH team is pleased to announce the grand opening of its Slack team. You will share trading ideas with our community, improve your trading skills, benefit from live intraday technical analysis and strategies. Video sessions with TA teaching and concrete cases are on the agenda too.
Welcome bonus with a free trial
Link to the : Slack team
If you want a preview of our analyses,
follow us on Twitter
follow us on : Facebook
follow us on : LinkedIn