ETH/USDT - DAILY DAY TRADING PRICE ACTION + SND OUTLOOK
Welcome to the daily idea outlook on
ETHUSDT
My TA style
. Support + Resistance Levels
. Price Action
. Occasional Fibs
. SMA + HMA
7th April:
1) ETHUSDT is trending bullish on the weekly, but nearing a strong Day Timeframe structural resistance. This indicates only 2 things: Reversal, or Breakout.
2) On the 4 hour, lower highs are form. ETH has entered the 4-hour bullish Fibonacci zone.
Scenarios I will make entry on:
a) Price test 1836 levels and form sideways trend with strong support and failed-breakouts below level, or bullishing spikes during volume periods - Entry : Longs // Take profit - 1992
b) Price breaks to 1810-1802 level, forms resistance at 1833 levels - Entry : Shorts // Take profit - 1779
Entries will be made on 1 hour or 30min timeframe. Anything lower, I feel it's not a stable indicator.
ETHUSDT
My TA style
. Support + Resistance Levels
. Price Action
. Occasional Fibs
. SMA + HMA
7th April:
1) ETHUSDT is trending bullish on the weekly, but nearing a strong Day Timeframe structural resistance. This indicates only 2 things: Reversal, or Breakout.
2) On the 4 hour, lower highs are form. ETH has entered the 4-hour bullish Fibonacci zone.
Scenarios I will make entry on:
a) Price test 1836 levels and form sideways trend with strong support and failed-breakouts below level, or bullishing spikes during volume periods - Entry : Longs // Take profit - 1992
b) Price breaks to 1810-1802 level, forms resistance at 1833 levels - Entry : Shorts // Take profit - 1779
Entries will be made on 1 hour or 30min timeframe. Anything lower, I feel it's not a stable indicator.
- Price tested 1836 level on 9th April at 2pm GMT +8
- 10th April 9am hourly candle closed with long wick rejection. Of support forms, Price Action should still be trending bullish