After an amazing uptick since the first of the year on ETH/USD, we're not seeing it retrace back to the second fibonacci level at around 1,117. We have yet to break through, and if the support holds, we should see a reveral within the next 12-24 hours.
If we break through the 1,117 level, look for a continued drop to ~1,000, which was last seen on the 8th for a few hours. The strongest level of support below that is at around 950, which should prove to be the lowest point in this consolidation. Feel confident in reversing your short to a long around then (if not before)
If we break through the 1,117 level, look for a continued drop to ~1,000, which was last seen on the 8th for a few hours. The strongest level of support below that is at around 950, which should prove to be the lowest point in this consolidation. Feel confident in reversing your short to a long around then (if not before)
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