ETH/USD : Looking to buy in the dips$

23 באוג׳ 2021

ETHUSD
Hello everyone 😃

ETH just reached the daily order block and it just looks stiff here.
Now there won't be anything to mention, Except some of the data...

- Consolidating at the supply formed at the point of breakdown.
Absolutely huge level. Price currently resting on a S/R level.
- Hold, close above $3379 and I think we zip up to $3720
- Lose the S/R level and it's starting to look like a shift in structure.

- Levels of interest to the upside: $3720+ (into the zone of supply)

- Levels of interest to the downside:
- $2830 - $2930 : This would sweep the lows and possibly tap into the H4 EMA 200, Bullish reaction from there would likely resume the move to the upside; This level is also confluent with the daily highs from May-June.
- $2500 - $2615 : Demand zone confluent with August Open. Excellent area to look for longs if we get it.

So not looking for shorts unless a lower timeframe opportunity presents itself and I can get in close to invalidation, Mainly looking for buy the dip opportunities.

Also there will be a chance for higher bounce if #BTC breaks above 51K and take hold, But the main idea has matched with the volatility which is not looking for another bounce above the buy limit zone..
As it's approaching the edge of limit, It will be more harder to follow the bullish direction !

How ever the FIB levels are looking promising enough; So we can tag them as a support, If any correction happens..
Below the current S/R level; There will be a support which is formed a daily order block on 61.8% FIB's level.

- Any engulf on $3590 can be another confirmation for further growth above $3720+ !

Hope you enjoyed our analysis about ETH's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.

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Helical_Trades