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ETHUSD technical analysis – 21 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.
ETHUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
We are currently withing a ranging bound of 200 to 120
The price has retraced from the low of 100 and there was as spike to 220
In this hold pattern, it is better not to enter any new positions, but to wait to find better entries and exits
ETHUSD four hourly analysis
Using trend lines we can further support our analysis from H1
If we break up, out of the current ceiling trend then we will see the 200 price point
If we break down, out of the rising bottom trend we will see 100 price point
This also reinforces the point that the price is stable at this point approaching a pivot
ETHUSD daily analysis
On the daily chart we can see use fib retracement
The 38% channel has been achieved and price bounced off
Expect the 23% figure around 150 to be challenged again
Supports our H1, H4 analysis of price moving sideways short a short period
Any entry point below the 20% fib level is a good point of entry for long term buy positions