Looking at recent patterns with ETH since the high, we have seen a drop then sideways trading, then another drop.
In looking at the trading following this second drop (black line), it is very similar in pattern that seen with the previous drop (blue line). If this pattern continues, ETH may be setting up for another drop. To be clear, the black data path is identical to the original blue data path but has been overlayed on the current trading pattern.
In looking at the MACD, there has been decreasing highs and increasing lows - with a potential end to the current patterns around the end of the month. At that point, ETH may beak up or down, depending on market sentiment at that time. Either way, it is likely to be a quick move.
It is possible ETH will make a major move sooner, but at the moment, there is little evidence of clear bullish movement. Alternatively, there is a lot of resistance above and little evidence that ETH can't go lower until touching longer-term trend lines.
This is educational and meant to highlight similarities in current and previous trading patterns.
Trade carefully and watch for further evidence of up or down movement.
In looking at the trading following this second drop (black line), it is very similar in pattern that seen with the previous drop (blue line). If this pattern continues, ETH may be setting up for another drop. To be clear, the black data path is identical to the original blue data path but has been overlayed on the current trading pattern.
In looking at the MACD, there has been decreasing highs and increasing lows - with a potential end to the current patterns around the end of the month. At that point, ETH may beak up or down, depending on market sentiment at that time. Either way, it is likely to be a quick move.
It is possible ETH will make a major move sooner, but at the moment, there is little evidence of clear bullish movement. Alternatively, there is a lot of resistance above and little evidence that ETH can't go lower until touching longer-term trend lines.
This is educational and meant to highlight similarities in current and previous trading patterns.
Trade carefully and watch for further evidence of up or down movement.
Bình luận:
Magnitude is compressed, but a closer look at the same trend but compressed shows very similar patterns. If this continues, we may see a decrease to around 850 and either a bounce or a push through to lower levels. Alternatively, if the pattern does not continue, ETH could break out on the upside what would likely be a strong increase for at least the short term.
