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Without saying something about when fibs will likely resonate/hold, that statement has no more significance than saying something like “moving averages are helpful in confirming trend-trading entry points. ... where the pullback could reverse and head back in the trending direction.”
(hint: swing ‘slope’ is good place to start... slopes of last 3 swings to hone)
AI works with data it is given.... just sayin’
There are rumors that the ‘artificial intelligence’ in all the AI funds may stop buying and even start selling.... just sayin’
...not an issue --- until you consider that there is not a diverse universe of AI ‘models’ out there. In fact, the universe of neural net models are close to a weird ‘singularity’ esp on the trading platforms.... just sayin’
ie...not an issue --- until you consider that the outputs of Unsupervised Learning models, Supervised Learning models, Semi-supervised Learning models, and Reinforcement Learning models all correlate much more than one would hope. Ie Some ‘geniuses’ develop an original model in Boston, another team builds a new proprietary model in Chicago... another out of Princeton, etc etc. etc etc etc and all the models learn to do about the same things.... what am I just sayin’ ?
Ethereum (ETH) Daily Price Forecast – November 15
ETH/USD Medium-term Trend: Bearish
Resistance Levels: $240, $260, $280
Support Levels: $170, $160, $150
Yesterday, November 14, the price of Ethereum was in a bearish trend. Price was fluctuating at the $210 price level before the bearish breakout. The crypto's price was resisted by the 12-day EMA and it is approaching the $180 price level. The digital currency has reached its oversold region, therefore traders should look out for buy setups so as to initiate long trades.
This will enable traders to earn partial profits as the crypto's price commences its bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicate that price is in the bearish trend zone.
ETH/USD Short-term Trend: Bearish
On the 1-hour chart, the crypto’s price is in a bearish trend. The crypto's price fell to the low of $182.05 and price is ranging at that price level. The crypto’s price is now below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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