Tonight's trade analysis features a long term trendline starting on the 28th of December at 08:00 . This level was a support-turned-resistance after the previous 25% pullback, much similar to the one we saw in early January of this year in terms of its percentage and general effect on the sentiment of the market.
People are seemingly very shaken by the price...
A simpler idea for Ethereum today, I am looking for it to either breakout bullish/ bearish.
I used the SlingShot indicator with the 30m 50 SMA to confirm bullish strength to start building up a long position between here and the lower Fibonacci levels.
If we break bullish then I would expect us to near towards $1920-$1970 toward my 1.618 Fibonacci level.
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