Here's my "low-IQ" ETH analysis on the daily TF (haha I'm just being petty, but seriously).
I've been talking about the #ETHMERGE potentially being a "buy the rumor, sell the news" event for weeks now.
Yesterday morning I warned that the markets were @ resistance while DXY was @ support, suggesting BAD CPI news.
This has played out & now here's what we're looking @:
- Rejection just under Gold Pocket @ $1789
- 9SMA now curling down with price below it, look what happend on Aug 17 - 19 (not pretty)
- Bear target #1 $1490 - $1520
- 9SMA on the 4HR is coming down AGGRESSIVELY & has been the contributor to the last few legs down.
I warned about the 9SMA on the 4HR rolling over last week, hopefully now we all know the importance of this indicator.
The next leg down could be @ 4pm EST as that is when the 9SMA on the 4HR is taking its next big move lower.
Be safe folks & as I always say, avoid the hype & focus on the charts.
I've been talking about the #ETHMERGE potentially being a "buy the rumor, sell the news" event for weeks now.
Yesterday morning I warned that the markets were @ resistance while DXY was @ support, suggesting BAD CPI news.
This has played out & now here's what we're looking @:
- Rejection just under Gold Pocket @ $1789
- 9SMA now curling down with price below it, look what happend on Aug 17 - 19 (not pretty)
- Bear target #1 $1490 - $1520
- 9SMA on the 4HR is coming down AGGRESSIVELY & has been the contributor to the last few legs down.
I warned about the 9SMA on the 4HR rolling over last week, hopefully now we all know the importance of this indicator.
The next leg down could be @ 4pm EST as that is when the 9SMA on the 4HR is taking its next big move lower.
Be safe folks & as I always say, avoid the hype & focus on the charts.