ETH USD Breakout of pennant/ continuation of downtrend
Bullish Indicators:
MACD Crossover on the Daily
Bullish Divergence Found on the 4hr
On the hourly the cloud resistance is being tested and the Tenkan has crossed the Kijun,
a breakout of this cloud and I will take a long position.
We tested the 88 fib and bounced off of it on Sep 18th
1st Target: 225
2nd Target: 243
3rd Target: 300
Bearish Indicators:
The trend remains below the clouds on the daily
The Tenkan remains below the Kijun
Should it break below the pennant I expect to see the price reach ~151 before bouncing.
MACD Crossover on the Daily
Bullish Divergence Found on the 4hr
a breakout of this cloud and I will take a long position.
1st Target: 225
2nd Target: 243
3rd Target: 300
Bearish Indicators:
The trend remains below the clouds on the daily
The Tenkan remains below the Kijun
Should it break below the pennant I expect to see the price reach ~151 before bouncing.
Komentarz:
Bear flag forming, wait for confirmation as we break down below the fib.