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ETHUSD technical analysis – 4 APR 2020 – bigX
Disclaimer: Any information contained in this website are the intellectual ownership of bigX. If you share this information, please reference the source link at bigX at all times and include this disclaimer. The opinions, analysis, charts and pricing based in this market analysis do not constitute investment advice. This should not be relied upon as your only source of market research and should never be used for actual trading decisions. Our opinions and analysis are subject to change at any point and we will not accept liability for any losses directly or indirectly from this information. You should never use just one source of information to make trading decisions, rather you should take your time and make an informed decision based on your own research. Please note that past performance and analysis are no indicators for future results.
BTCUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
Previous week’s support broken through, opening up further movement down
FIB retracement 23% has been done
Severe volatility in markets shows weakness of long positions, but potential swift entries and exits are possible
Retracement to 6000 and 7000 are within range
ETHUSD hourly chart analysis
ETHUSD also supports a mass sell-off of assets
H1 reverse pin pattern suggests further move down in ETHUSD
We are approaching a yearly low of 73.00
Will we approach a close to 0.00 price for ETHUSD?
ETHUSD four hourly chart
The four-hourly chart for ETHUSD shows potential support and resistance points
We have a potential to approach multi year lows of 80.40 and 50.47
The sharp spike and dip to 200.55 is still possible for long term exits
XRPUSD four hourly chart
We have broken a key support level at 0.200
An all time low at 0.03+ is within range
Excellent buying opportunities for long term positions
Bearing in mind the yearly high for XRPUSD is 0.48 and the all-time high around 2.7
In this technical analysis we have summarised three major coins with different chart timelines
The price action across the board shows many traders, retail and institutional are offloading their crypto assets
For technical traders, several interesting buying opportunities have opened up
With patience and long-term investment many positions will soon become profitable
In this situation, however, further movement down is still expected, so daily price action analysis is recommended