The million dollars question; What about Ethereum, lower or recovery?
And this is truly a million dollars question because knowing the answer can make you millions. It can either safe you lots of money or it can make you lots of money.
👉 Ethereum is going lower.
The 18-May low happened at $2,323, and this low wasn't challenged, the drop yesterday ended as a higher low. But, there is something... We lost some important support levels.
ETHUSDT lost the 0.236 Fib. retracement, when this happens, the action tends to move to the next lower-level which is below the 18-May low.
Looking at the 4H TF, ETHUSDT lost EMA55 and MA200, so these are also pointing lower.
Just a few days back I mentioned $2,000 entry LONG opportunity for Ethereum, this price might be possible but it is still really early.
The market has been sideways and this breakdown is new. It would be good to wait for the weekly session close to see what prices we will get, without this information, I can say that it is still too early to say, but I can still make my guess. My guess is that it is going lower.
Thank you for reading.
Namaste.
And this is truly a million dollars question because knowing the answer can make you millions. It can either safe you lots of money or it can make you lots of money.
👉 Ethereum is going lower.
The 18-May low happened at $2,323, and this low wasn't challenged, the drop yesterday ended as a higher low. But, there is something... We lost some important support levels.
ETHUSDT lost the 0.236 Fib. retracement, when this happens, the action tends to move to the next lower-level which is below the 18-May low.
Looking at the 4H TF, ETHUSDT lost EMA55 and MA200, so these are also pointing lower.
Just a few days back I mentioned $2,000 entry LONG opportunity for Ethereum, this price might be possible but it is still really early.
The market has been sideways and this breakdown is new. It would be good to wait for the weekly session close to see what prices we will get, without this information, I can say that it is still too early to say, but I can still make my guess. My guess is that it is going lower.
Thank you for reading.
Namaste.
Trade closed manually
Close all SHORTs. We are bullish/LONG.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.