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Bringing evidence-based / data-backed technicals to your inbox, daily. Not selling anything. Just Macro trends, DeMARK indicators and some stats.

ETHUSD Flash Update

PetrTrades

Apr 20, 2022

Daily range still holding where it should. 3000 was the key and under cut the low + 50 day moving average and held. Also held our proprietary trend zones.

Daily DeMARK chart posted below

So why the update? Well the daily levels are holding but we have a 240M 9 sell setup. Be aware of this because the sell setups have been good for-short term reversion.

I'm still bullish on ETH on the medium term but wanted to send the update because of how tied the whole crypto space is to Nasdaq/SPX at the moment.

I'm looking at 2900 as the last line in the sand on a tactical ETH long if it reacts in a negative way to the 240M 9 sell setup.

Good luck!