Market Analysis of September 3rd, 2019 – 4C-Trading
Over a 4-hour horizon, the indicators are approaching their oversold zone and may give sales signals in the near future, making a correction likely.
Given the 4h technical situation, a return to the old monthly opening level of around 10080$ is possible, so we will wait for a return on this support level before reassessing the situation.
ETH’s technical situation is similar to that of Bitcoin, which is positive. In addition, the Ethereum is currently in a downslope bevel configuration after a long period of increase. Prices are just below the oblique resistance.
On a 4-hour horizon, the technical situation is rather negative and a drop towards the weekly opening level of $171.2 cannot be ruled out.
What to do about it?
Wait for feedback on the weekly open before reassessing the situation.
- The supports of the day are at 171.2$ — 160$
- The resistances of the day are at 180$ — 195$
We advise you to wait for a return on support for BTC and ETH.
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See you tomorrow for a new market analysis!
Published at Tue, 03 Sep 2019 10:22:22 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-04-09 10:08:04
