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ETHUSD 16% Drop was expected will it reach 400.00 level ?

ETHUSD
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⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Price around 450.00 and in consolidation phase
2️⃣Trading within arising channel
3️⃣ Crypto's in uptrend and broke of 400.00 level
4️⃣ 430.00 Dynamic support and resistance
5️⃣ 500.00 will acted as strong resistance-Key psychological level
6️⃣ 490.00 will Acted as strong support-Possible entry point
7️⃣ Technical support - bullish
8️⃣ 420.00 will acted as key reversal-Bullish
9️⃣ October high-Immediate resistance-Alternative bullish entry
🔟 Possible swing target-420.00 lower counter trendline
#️⃣ Overall bullish trend-Within a rising channel

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📉 Technical bias-H4-Bearish

Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as resistance Bear
Relative strength index - well above 50 - bullish trend
MACD -Turned red and felled below the signal line, Oscillators pointing downward
Stochastic - Reached around 50(Neutral area) The decision was neutral here
Ichimoku cloud -cloud is still green-Middle line supports bullish trend
Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band

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Key reversal area's

400.00 psychological level
384.00 Point of control area Volume analysis
422.00 Oct month high
332.00 Oct month low
488.00 Sep month high
311.00 Sep month low
400 50% Fibonacci retracement level
500.00 Major psychological level
488.00 Possible entry- Bear
420.00 Trendline resistance/Alternative bullish entry

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Bearish entry #Etherium #ETHUSD

Entry price - 488.00

Take profit 01 - 440.00
Take profit 02 - 410.00


🚫 Stop lose 510.00

⬇️16% Drop expected
⤴️ Account growth 4.5: 16
✅ Risk reward ratio 1 : 3.5

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