Market Update: ETHUSD & ADAUSD – Jan 24th, 2023
NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.
ETHEREUM – ETHUSD: Looking To Sell AT Or Within $1680 – $1790 Resistance Area
Comments: Price moved slightly higher from the Inside Bar Pattern that had formed on Thursday, Jan 19th.
Price is now trading just below the $1680 – $1790 short-term resistance area.
Potential Trade Signal: We are looking to sell at or within the $1680 – $1790 resistance zone, and after a clear Bearish Setup or Signal.
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CARDANO – ADAUSD: Looking To Buy On A Breakout Of The Inside Bar Pattern
Comments: Price formed an Inside Bar Pattern on Monday, Jan 23rd.
Price broke out above the 0.3290 – 0.3305 prior short-term resistance area, which now acts as a short-term support area.
Potential Trade Signal: We are looking to buy on a breakout of the current Inside Bar Pattern, with stops below the low of the Mother Bar (The first candle in the Inside Bar Pattern).
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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.
