ETH - MULTI TIME FRAMES - WARNING DOUBLE TOP IN PROGRESS H4/H1
M1 : Currently below the 38.2% Fib ret (2735) of the 86-4372 rally...
W1 : Currently below the weekly pivot level of 3025
D1 : In a ongoing downtrend channel, still above the clouds
support area. Today's candle is showing, for the time being, a potential
bearish pattern. Wait D1 closing for validation or invalidation !
H4 : Double top formation in progress and currently below TS.
H1 : Double top trigger level @ 2665. A breakout confirmation would
give a technical target @ 2420
M30 : Same than H1 but currently already below the clouds.
M15 : Below the clouds and below TS
M5 : Bullish divergence detected an hour ago, triggered a very small upside
move corrective recovery only..
CONCLUSION : THE DOWNTREND IS STILL INTACT ON ONLY A CLEAR MOVE ABOVE
THE PSYCHOLOGICAL LEVEL OF 3'000 WOULD FORCE A REASSESSMENT OF MY BEARISH
EXPECTED SCENARIO CALLING FOR LOWER LEVELS.
Ironman8848
W1 : Currently below the weekly pivot level of 3025
D1 : In a ongoing downtrend channel, still above the clouds
support area. Today's candle is showing, for the time being, a potential
bearish pattern. Wait D1 closing for validation or invalidation !
H4 : Double top formation in progress and currently below TS.
H1 : Double top trigger level @ 2665. A breakout confirmation would
give a technical target @ 2420
M30 : Same than H1 but currently already below the clouds.
M15 : Below the clouds and below TS
M5 : Bullish divergence detected an hour ago, triggered a very small upside
move corrective recovery only..
CONCLUSION : THE DOWNTREND IS STILL INTACT ON ONLY A CLEAR MOVE ABOVE
THE PSYCHOLOGICAL LEVEL OF 3'000 WOULD FORCE A REASSESSMENT OF MY BEARISH
EXPECTED SCENARIO CALLING FOR LOWER LEVELS.
Ironman8848
