Multi-timeframe Analysis Of ETHUSDT On Trading View

Source

Hello crypto family,

How are you doing today? It is your favourite cryptocurrency analyst and I am before you all today to share my analysis on ethusdt.

Kindly pay attention and learn how I trade the cryptomarket.

I visited the cryptomarket on the monthly time frame, and the pair ethusdt.

From my monthly view of the chart, the market hasn't broken pass the main resistance to make it a bullish market but I can see it trying to recover from the market.

Then I decided to mark out some key region in the market, and on the market, I marked out a strong support level in the market, and this level has been tested severally and obeyed by the market.

Then I moved to a lower time frame to get more information about the pair ethusdt, and I noticed that the market has respected this region of support severally.

And when a particular region has been respected in the market, it is more likely to hold when the price gets to it.

After zooming in and out of the market, I could see some more key levels that has been respected severally by the market.

And I decided to identify these levels just as seen above, and this level has been severally respected by the market.

Then I decided to move to a lower timeframe which is the daily timeframe to see if I could markout some more key levels that has been respected by the market.

Moving to the daily timeframe, I saw more historical data than when it is compared to the weekly timeframe.

And from my analysis, I saw that the levels I had previously marked out is still very much valid, and I decided to move lower again to get more data that will influence my trading.

On the 4hr timeframe, I could see that the market has approached the resistance level and I expect to see a market reaction in the market.

As I looked closely, I saw a rejection candle, and this implies that the market is being rejected by the resistance region.

Then I needed a confluence before entering my trade, and this led me to the use of my indicators.

I then introduced the stochastic indicator to the chart.

And going to the monthly timeframe, i could see the market in an oversold region and this is a bearish trend reversal signal.

The stochastic indicator helps us to identify overbought and oversold region in the cryptomarket.

Then moving a little bit lower by timeframe which is the weekly time frame, I could see the stochastic indicator in its oversold region, and this region is signaling a bearish trend reversal.

Then I discern that this is acting as a confluence to my previous analysis, and with this I went to a lower time frame.

The daily timeframe is a very significant timeframe in the cryptomarket.

And moving to the daily timeframe, I noticed that the stochastic indicator is in it's oversold region and this is depicting a bearish trend reversal.

From the above screenshot, we can see that the market is in it's oversold region and we should be expecting a bearish move very soon.

The I went lower to search for an entry in the market

On the 4hr time frame is where I decided to enter the market today.

Checking my indicator, it is signaling a bearish move and I took this as my entry criteria for the market.

CONCLUSION

I have shared my analysis of ethusdt on multiple timeframe and using an indicator as a confluence.

My post should not be used as a financial advise rather every user should conduct their own research before making decisions.

All screenshot was taken from trading view