[11/20/21] ETHUSD -- Short term pullback expected on 4hr chart

20 Kas 2021

Double top is made below 4355, which is a bearish point of control (poc). This is expected. Now, expect a pullback. Below I measured with fib extension for potential TG. Also, beware that nearest weekly candle support is near 4080ish area, which is around 0.236 retracement level. There is a 50D ema around 4127. Therefore, 0.382 retracement or deeper should be expected. However, if bears are aggressive, they will want to try the low point around 39xx ish. Let's see how they handle the yellow dash trendline. If Bears pushed below, I will need to revise my count for a deeper 5 wave down.