ETHUSD Analysis 15/1/2022 4hr§
Update from previous idea:
It has been a while since the last update and I am going to be doing eth analysis again everyday. been distracted with forex but I can still find the time to analyse eth I still look at it daily just have stopped trading the past few weeks.
anyways, we have flipped this thick yellow line as support which is really good to see, however not seen a bullish retest which would be crucial, if we look at this fib a retrace back to test the yellow line would also be the perfect retrace in terms of liquidity of the move.
right around the 0.65-0.79 area maybe a slight wick below it but that is ideal for recovery to allow more momentum up.
there are several targets to the upside, im not really concerned about this thin yellow line I have here it has been tested and broke a few times. my first big level of resistance for us is this green line. price has seen consolidation at this level for a while so flipping this bullish would be important.
we could also be testing the neckline of this small W pattern which we have tested perfectly and continued up. don't take this too serious I would care more about the test on support and this fib from swing low to high.
a few things to look forward to, in terms of downside I think we break the thick yellow line were making a new low, my red box would be a likely target but hopefully we hold and continue upwards.
It has been a while since the last update and I am going to be doing eth analysis again everyday. been distracted with forex but I can still find the time to analyse eth I still look at it daily just have stopped trading the past few weeks.
anyways, we have flipped this thick yellow line as support which is really good to see, however not seen a bullish retest which would be crucial, if we look at this fib a retrace back to test the yellow line would also be the perfect retrace in terms of liquidity of the move.
right around the 0.65-0.79 area maybe a slight wick below it but that is ideal for recovery to allow more momentum up.
there are several targets to the upside, im not really concerned about this thin yellow line I have here it has been tested and broke a few times. my first big level of resistance for us is this green line. price has seen consolidation at this level for a while so flipping this bullish would be important.
we could also be testing the neckline of this small W pattern which we have tested perfectly and continued up. don't take this too serious I would care more about the test on support and this fib from swing low to high.
a few things to look forward to, in terms of downside I think we break the thick yellow line were making a new low, my red box would be a likely target but hopefully we hold and continue upwards.
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