Update:
Looking at the daily timeframe here for eth, been a long while since I analysed but may as well say what im looking at here. so I can see a nice W pattern here. I would really like to see the wick get above the 3200 level before retesting the neckline of the W pattern but yes I think upside is coming, broke the previous daily high which is good looking to hold a bullish retest I.e. not drop under the 0.618 I want a strong bounce here.
once we hold bullish structure I would probably look for longs, if you want the safest trade then wait till we break 3400 and go for a bullish retest on the level, might be volatile so buy stop if price looks really bullish.
worst case we drop below the previous low then I will update on targets but from a daily view small retrace and continuation is what im hoping for here!!
Looking at the daily timeframe here for eth, been a long while since I analysed but may as well say what im looking at here. so I can see a nice W pattern here. I would really like to see the wick get above the 3200 level before retesting the neckline of the W pattern but yes I think upside is coming, broke the previous daily high which is good looking to hold a bullish retest I.e. not drop under the 0.618 I want a strong bounce here.
once we hold bullish structure I would probably look for longs, if you want the safest trade then wait till we break 3400 and go for a bullish retest on the level, might be volatile so buy stop if price looks really bullish.
worst case we drop below the previous low then I will update on targets but from a daily view small retrace and continuation is what im hoping for here!!
