Hey guys welcome back ethereum right now is trading at two thousand six hundred and fifteen dollars on a three-day chart again we weren't even close and moving above the 20 moving average or closing above it and we are tracing it downwards on our fib chart as low as what right now two thousand five hundred and one dollars so going into a day chart of course we can see our double top chart pattern here failed to rally another high here compared to the other high and we are continuing to come down from the neckline from our devil top we have dropped down to 11.71 percent and that's huge that's criticaland where i think
Ethereum is going to come down to is probably retrace back to 25 43 or even at the outskirts of our bollinger bands simply mirroring the same effect here on january 21st as bitcoin is going to continue to come down or if we're not even going to hold the 23 of our fib chart we may actually retrace back down to here where we see more volume is going to be produced in our orders of supply and demand zones so again if we're not going to be holding at 23 40 or 25 43 the price may actually want to retrace back down to 2379. if before that we see that price this is going to be the number that we
Need to bounce back on is the 2436 you can see that this is going to open it up a little bit more that there are these two nodes here that stick out amongst all of them here and this is what we're going to be using as a support number if we're not going to bounce back from the retracement of our bottom bollinger baNnd taking a look at our rsi on a daily mark 2 so right now we're at 39 the previous one was 40. we could debate at 40 that there was some increases and there was a lot of decrease but with the overall market
Right now i'm not going to anticipate that there is going to be an increase i feel like it is going to be continued a a downgrade from here so um back here on january 16th the rsi was roughly around 42 and then a decrease from there this here is where bitcoin did make another fall again and it is going to continue to fall in the next couple of days from what i'm predicting um so if we do getany type of gain we may gain up to at least 45 for
Eutherium itself when i take a look at some of our characteristics of our candlesticks there's really no candlestick i can see on the daily mark that would trigger a reversal on this downtrend going into immediate short term let's take a look you guys all right immediate short term we had our uh not really i mean this is an engulfing candle here so we did have some momentum however take a look atthis you guys right here at this line hard resistance zone of two thousand six
Hundred and fifty five dollars so if we're not going to be breaking that in a short term immediate um then we're not going to be even retracing all the way up here to 2700 i feel like we are just going to come down and retrace back again the 2543 dollars so thank you guys so much
0 Comments