Eth/Usd looking like a potential reversal - Using higher and lower time frames
Looking at the hour candle charts:
There's almost a cloud reversal imminent which is a positive sign. Further, it broke the green trend-line, while holding the long term blue trend line, all good signs. However, this move might be over as it looks like it's stalling out a little bit above the cloud.
I might wait for a pull back to 400 or 388 before jumping in with my stop losses at 362.
Although, if we put this move in a bigger context
We can see both the RSI and Stoch RSI are very oversold right now. And past history can show us that when those two are both oversold, moves are not far behind. I wish the day candle time frame was also showing a soon to reverse cloud - but I'd say this is likely a good bet for a long position.
TL;DRL:
- bullish signals
- Buy at $400 or $388
- Stops at 362 or potentially below the long term blue trend line.
And as always don't forget to upvote and reblog :D
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