ETH Recovery: Sight is Set on $2380 - Embrace the Bull Run!


Date: 11/07/2023 

Horizon / Timing:  Tactical Mid-term / 1 to 3 months 



Bitcoin is expected to progress towards 2380. A break above 2170 in daily close would open the next upside target at 2380 and 2650 

As long as 1700 remains a support valid in daily close a direct bullish move is expected 


Technical Key Elements: 


- ETH keeps potential to test the form Breakout: Bear Market area at 2170/2650 
- RSI indicator is positive with a bullish signal valid and upside potential 
- The Moving average crossed to the upside and act as support 
- Fibonacci key support is adjusted at 1700 while the Elliot wave shows upside potential towards 2380 and 2650 


NB: ETH/BTC cross is still calling for BTC outperforming 

Trade Idea conclusion:  Buy - Conviction



Target 2: 2650 

Target 1: 2380 

Upside confirmation level at 2170 (Daily close) 

Buy: add in dip area 1850 

Stop: 1700  




Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 


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