Good evening everyone this video of this morning was the change eth / usd and this evening I will try to analyze in more detail what happened throughout the day.
As can be seen from the graph the descent began on the day of 6 December 2018, exactly at 10:00 started a rise not strong enough to break through the resistance that is at the value of 104.00 $, this has created a small tracing to the high but then had to retrace his steps, thus creating a slow but inexorable descent.
The descent continued until 19:00 in the evening, meeting the support that had created a long spike at 6.00 in the morning of the same day.
Between 19:00 and 22:00 the price has a lateralised value of between 100 and 98 dollars, at 23:00 on December 6, the price has retouched by breaking with a little obvious spike the support that had appeared a few hours before .
Now let's analyze what has happened since today's midnight December 7, 2018
00.00 opening 97.43 closing 93.82
01.00 am opening 95.63 closing 90.56
02.00 am opening 93.10 closing 88.55
03.00 am opening 90.82 closing 86.80
04.00 am opening 88.81 closing 85.50
05.00 am opening 87.16 closing 86.02
As shown in the graph, the price from the moment that at 4:00 has touched the minimum at 83.00 has held lateralized until 17:00.
This lateral movement is probably from the increase in volumes, which, as can be deduced from the graph, have started to push upwards thus creating large columns within this graph.
Inside the chart we simply find a discrepancy between volumes and candles, in fact, the trend was lateral with very large volumes, but the strongest rise we met at 6:00 this morning at the maximum value of $ 89.56 throughout the morning the price to lateralized holding this value as the peak of the pressure band created, of course, the maximum was also confirmed at 15:00, at the entrance of the American market by drawing a small spike, the price seems to move inside of these parameters MIN 82.82 $ and MAX 89.60 $.
In conclusion, the analysis turns to a single reality, the trend is bearish.
We analyzed the chart at one hour, moving from the classic one-day chart, to analyze in detail what were the movements, both volumes and price, within this day.
What we can deduce is that the Fibonacci levels have not been minimally scratched, neither the upward trend ($ 113.79) nor the downward one ($ 81.52), these figures are very important, especially considering this morning's analysis.
The design we created using Fibonacci tracing revealed what are the cardinal levels of this compression band, which will surely be used as a pivot for future orders.
Obviously we must wait for the Asian market to fully understand if our analysis is confirmed or denied.
This article has been translated with Google translate
For those wishing to deepen this is the link of the video analysis of the morning (this video is in italian lenguage)
