Today’s report will also include:
Updated Technical Analysis
Other key market developments
Trading Tools
ETHUSDT Long Trade 📈
In today’s analysis -ETHUSDT - having a local correction after a strong bullish expansion into a highb timeframe .618 fibonacci.
Technical Points to consider ✍
.618 and Daily S/R Support
.618 and POC S/R Support
Bullish Order Block S/R Support
Consecutive Higher Lows
The current price action on Ethereum is very impulsive with a strong bullish expansion, this has now slowed down at the .618 Fibonacci and S/R resistance.
Confirming a rejection here will make the lower Bullish Order Block S/R the objective. Testing the region will fill in the price inefficiency, ths area is also in confluence with the .618 Fibonacci and POC S/R Support.
Overall, from Bitcoin Insider’s perspective, ETHUSDT is a valid long with defined risk, price action it to be used upon discretion/ management when lower support is tested. ✍
Hope this analysis helps.
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Trading Psychology 🧠
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