D4 wanted to give you a quick update on what ETH has been up to. We are not taking a look at the 1D ETHUSD Chart.
Looking over the week or two, Bitcoin is almost certainly going to hit that 6,000 USD - or even maybe 5,000-level. What does that mean for Ethereum? Well, you guessed it my friend! It's gonna go down too. And as always, it will do worse than BTC.
But there is a bit of light in the darkness though. D4 wants you to notice how ETH is oversold on the daily RSI, so we can expect it to bounce up a bit! YAY! :)
But up how much then? Well, as said, BTC is not gonna let it party too much. If Bitcoin will manage to go to 7,8xx USD, as it seems like at this very moment, we will probably see ETH go up to 424 USD, where we have resistance, that is also is a Low Volume Node (L.V.N.)
Looking at the chart I see everything clearly. First we will slam our head into 424 USD, and then bounce back down to the black dotted line, which acts as HUGE support. 2 reasons - Firstly it's 78,6 % retrace and secondly it's Point of Control (P.O.C - the longest node on the Volume Profile).
That's all I had to say about ETH for today. Don't panic. Markets have to retrace. Be patient, and you'll see it reverse before long.
D4 loves you <3
Please give a like if you think ETH needs some encouragement today! Thank you, my friends :)
評論
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So as you can see, we almost reached our target at 424 USD, but then Bitcoin decided to retrace from 8,500 USD.
I will come up with a VERY interesting chart soon, which shows that ETH will take over from BTC.........
@sushrest, The big HS formation is not a huge deal, when it has such a strong right shoulder. BUT if BTC will go down, which it probably will very soon to 6k or even 5k, ETH will also go down to around 300 USD, where we have huge support (POC and 78,6 % retrace)
ETH/BTC?
Only to show USD prices?
Above you mentioned wrong "not USD" btw.