ETHUSD - Last two weekly candles are forming a bearish engulfing candle pattern.
For bullish confirmation:
1) Daily price must close above 21MA
2) Daily MACD should turn green and stay above 0 level
3) Daily RSI must maintain above 55 level
4) Price should close and find support at 1700 level
Price can reach USD 1850 area if tomorrow closing confirm bullish.
Adding more ETH potion depending on tomorrow weekly and daily closing and confirmation.
Lower TF :
6 hours candle should close above USD 1650.
In short, breaking the falling wedge yesterday has shown a very positive upward price movement.
However, possible strong rejection at USD 1850 area can bring the price to the next support level at USD 1370, further next support level at USD 1130.
For bullish confirmation:
1) Daily price must close above 21MA
2) Daily MACD should turn green and stay above 0 level
3) Daily RSI must maintain above 55 level
4) Price should close and find support at 1700 level
Price can reach USD 1850 area if tomorrow closing confirm bullish.
Adding more ETH potion depending on tomorrow weekly and daily closing and confirmation.
Lower TF :
6 hours candle should close above USD 1650.
In short, breaking the falling wedge yesterday has shown a very positive upward price movement.
However, possible strong rejection at USD 1850 area can bring the price to the next support level at USD 1370, further next support level at USD 1130.
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