ETHUSD Potential for Bullish Momentum | 19th October 2022

19. Okt. 2022According to the H4 chart, the current overall bias for ETHUSD is bearish. However, the price bounced off 1267.20, the intersection of the 50% and 38.2% Fibonacci lines. Price also closed above the Ichimoku cloud, indicating a possible short-term bullish trend. A buy stop entry at 1344.40 with a stop loss at 1190.00, the previous low and 100% Fibonacci line, would be ideal. The take profit level will be 1489.89, which is around the 50% and 78.6% Fibonacci lines.
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