ETH has been selling off over the last couple of days. As of today, ETH has reached daily oversold levels on the daily RSI, the first time since the FTX collapse.
The daily RSI being oversold on the bigger assets like ETH and BTC typically offers good risk-reward entries for bounce plays.
To further strengthen the bullish narrative, ETH is currently trading at a very strong diagonal support. I've been looking at this support for a couple of weeks now.
My target is the 2023 top for the highest R/R. One could also use 2000 or 1900 as TP levels. Stop under the daily low.
Keep in mind that this trade is relatively risky since the crypto market is weak at the moment.
The daily RSI being oversold on the bigger assets like ETH and BTC typically offers good risk-reward entries for bounce plays.
To further strengthen the bullish narrative, ETH is currently trading at a very strong diagonal support. I've been looking at this support for a couple of weeks now.
My target is the 2023 top for the highest R/R. One could also use 2000 or 1900 as TP levels. Stop under the daily low.
Keep in mind that this trade is relatively risky since the crypto market is weak at the moment.
Uwaga
Reversal in play🎯
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.