ETH Breaks Below 1k! What's Next?
A few articles ago, I talked about ETH breaking the weekly trend line (teal) and the next major support being $800. Seeing as we just broke $1,000, I strongly believe that is the next target.
The macro environment has been extremely bad the past couple of months and is showing no signs of slowing down (30 year fixed rate mortgages are approaching '08, '09 levels). ETH broke below its 200 EMA two weeks ago and is now on a trajectory for my first DCA weekly support of $800. After that, I'm looking to purchase more at $530, then $308 (the next weekly support levels).
The Whales buy-sell indicator gave us a great short entry towards the end of April and hasn't flashed a buy yet. I'm still waiting for the indicator to flash a buy, as well as ETH to cross back over the 200 EMA . Until this happens, I am still only looking for leverage shorts and spot buying at my predetermined weekly support levels. If we bounce from here, the next major resistance will be near 1400-1500 which coincides with weekly resistance and the 200 EMA .
The macro environment has been extremely bad the past couple of months and is showing no signs of slowing down (30 year fixed rate mortgages are approaching '08, '09 levels). ETH broke below its 200 EMA two weeks ago and is now on a trajectory for my first DCA weekly support of $800. After that, I'm looking to purchase more at $530, then $308 (the next weekly support levels).
The Whales buy-sell indicator gave us a great short entry towards the end of April and hasn't flashed a buy yet. I'm still waiting for the indicator to flash a buy, as well as ETH to cross back over the 200 EMA . Until this happens, I am still only looking for leverage shorts and spot buying at my predetermined weekly support levels. If we bounce from here, the next major resistance will be near 1400-1500 which coincides with weekly resistance and the 200 EMA .
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.