In Today’s analysis -ETHBTC- bottoming around a support region that has multiple technical confluences.
Points to consider ✍️
Point of Control Support
- Dynamic S/R Support
- Bullish Order Block Support
- .618 Fibonacci Confluence
- Swing High Objective
ETHBTC’s market structure has been bearish for a considerable period of time, price action is currently testing the POC, Bullish Order Block and the Dynamic S/R Support for a potential reversal zone.
Price Action need to establish a local bottoming structure around the .618 Fibonacci confluence zone, this will increase the probability of a bottom being in pace.
Overall, in from Bitcoin Insider’s perspective, ETHBTC is a valid long with defined risk, price action it to be used upon discretion/ management. ✍️
Hope this analysis helps.
Points to consider ✍️
Point of Control Support
- Dynamic S/R Support
- Bullish Order Block Support
- .618 Fibonacci Confluence
- Swing High Objective
ETHBTC’s market structure has been bearish for a considerable period of time, price action is currently testing the POC, Bullish Order Block and the Dynamic S/R Support for a potential reversal zone.
Price Action need to establish a local bottoming structure around the .618 Fibonacci confluence zone, this will increase the probability of a bottom being in pace.
Overall, in from Bitcoin Insider’s perspective, ETHBTC is a valid long with defined risk, price action it to be used upon discretion/ management. ✍️
Hope this analysis helps.
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
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Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.