2021/12/06 11:11 AM – ETHUSD – D1 -WATCH THE CLOUDS TOO !!!

ETHUSD- D1 – WATCH THE CLOUDS TOO !!! by Ironman8848 on TradingView.com


Still in its ongoing uptrend channel , last weekly closing above the Tenkan-Sen. Ongoing weekly candle is going down…

Watch Mid Bollinger Band and bottom line of the uptrend channel as the first significant support level as a weekly closing below 3’700 would open the door for lower levels towards the Kijun-Sen, currently @ 3’285


Currently in a broad sideways slightly down channel (in orange on the chart) and in the middle of the daily clouds support area .

Watch carefully price action of the Lagging Line which is currently below the Kijun-Sen…

First significant support is @ 3’761 (50 % Fib ret) and also roughly the bottom of the daily clouds support zone and below the next support is @ 3’498 which is the 61.8% Fib Ret.

Interesting to look at the RSI price action, currently below the 50 level, @ 42.37

H4 :

Below the clouds and below Mid Bollinger Band , Kijun-Sen and Tenkan-Sen… looks like ready for at least a retest of former low @ 3’753 where a potential bullish divergence ( double bottom could take place !)

Watch carefully price action during the ongoing and next H4 period to get clues.

RSI below 50 too @ 36.81

H1 :

Below the clouds and below all three main indicators… for the time being, any recovery should still be seen as a corrective move in a broad bear trend (see daily chart )

The ETHUSD should quickly recover at least above 4’200/4’250 on this H1 time frame in order to temporary neutralise the ongoing downside risk.

All the best and take care


Update idea

Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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