ETH/USD update
24 hours are on and there is still no clear picture of what's going on. The break out levels are very wide:
- $337 to the upside;
- $275 to the downside.
Both levels trigger continuation when closed above or below on the daily basis respectively.
The upside volatility based target of $375 is conditioned by the strong 13&34 DWMA (yellow & blue) confluence resistance zone currently beginning @$320.
The downside volatility based target of $145 is equally questionable for the market is being supported by the strong 89 DWMA (brown) currently @ $283 and further down @ $213 by even stronger 34 weekly WMA (white dotted) where ETH strongly bounced from on the 16th of July when the WMA was @$134 at the time.
At the moment there's no point of updating the rest of CCs for they all move in sync and have equally unclear directional picture.
https://www.mql5.com/en/charts/7596291/ethusd-d1-fxopen-investments-inc
Thank you @srezz... lot to learn..
hi srezz, looking forward to your next analysis!
I need to see today's close.
relatively good support at 229 euros.
Thank you Srezz
interesting, whats the basic and worst scenario on this situation? in my opinion just a false flag, another whale incoming
I couldn't agree more.
I really appreciate your continued updates. Your charts/explanations have pushed my understanding forward in a big way. I still need to gain some further education, but my reading has been consistently more inline with your own as time goes on...which likely just reflects the fact that I'm using more of the methodologies that you employ.