Looking at the H4 chart, the current overall bias for ETHUSD is bullish. Overnight, the price went above the 1st support at 1488.77 where the 78.5% and 50% Fibonacci lines are located. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance at 1651.44 where the 78.6% and 38.2% Fibonacci lines are located.
Trading Recommendation
Entry: 1651.44
Reason for Entry: Sell entry where the 78.6% and 38.2% Fibonacci lines are located
Take Profit: 1405.86
Reason for Take Profit: 100% Fibonacci line and previous low are
Stop Loss: 1789.86
Reason for Stop Loss:
Previous swing high
