ETHUSD Potential for Bullish Momentum | 19th October 2022

19 окт. 2022 г.

According to the H4 chart, the current overall bias for ETHUSD is bearish. However, the price bounced off 1267.20, the intersection of the 50% and 38.2% Fibonacci lines. Price also closed above the Ichimoku cloud, indicating a possible short-term bullish trend. A buy stop entry at 1344.40 with a stop loss at 1190.00, the previous low and 100% Fibonacci line, would be ideal. The take profit level will be 1489.89, which is around the 50% and 78.6% Fibonacci lines.
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