hey guys,
I thought i'd give you a quick eth update. It's nearing my buy area where i plan to open chunky long position, right around 55k sats
It's apparently gonna do double bottom there and bounce off. 0.236 fib level did not hold and it's now going for 100% pullback from the previous high.
So let's put it all in perspective:
Assuming it's gonna hit 161 you're getting 13,5:1 risk/reward ratio with that setup. Hell, first target would be 1:1 which is still 8/1 to reach previous high. Definitely a solid play here.
With daily RSI at 21 it's gonna bounce soon and it's gonna be epic.
Gl and ty for reading.