ETH/USDT
1W/2D Charts
ETH also formed a high volume bottom after tapping into weekly demand and a supply to demand flip zone on the daily with nice pin bar rejection wicks on both the initial tap and on the formation of the HL the has changed the market dynamics and structure to bullish. Looking for price to put in a new HH to confirm it further for confluence but overall it looks solid here.
Weekly and daily supply level and the high failed to take out the low so therefore the high becomes targeted with the expectation of a new HH.
Weekly still in bullish swing formation with a HH and HL swing points as price remains in an upwards channel in the lower bounds. From a HTF perspective it can also be said the weekly swing high failed to take out the swing low so the swing high now becomes the target.
RSI breakout with bullish divergence and money flow on market cipher coming back into market with small trigger wave giving long signal. MACD on weekly converging showing signs of strength.
Lots of good indications of bullish momentum coming into the market here and a bottom may have formed.
1W/2D Charts
ETH also formed a high volume bottom after tapping into weekly demand and a supply to demand flip zone on the daily with nice pin bar rejection wicks on both the initial tap and on the formation of the HL the has changed the market dynamics and structure to bullish. Looking for price to put in a new HH to confirm it further for confluence but overall it looks solid here.
Weekly and daily supply level and the high failed to take out the low so therefore the high becomes targeted with the expectation of a new HH.
Weekly still in bullish swing formation with a HH and HL swing points as price remains in an upwards channel in the lower bounds. From a HTF perspective it can also be said the weekly swing high failed to take out the swing low so the swing high now becomes the target.
RSI breakout with bullish divergence and money flow on market cipher coming back into market with small trigger wave giving long signal. MACD on weekly converging showing signs of strength.
Lots of good indications of bullish momentum coming into the market here and a bottom may have formed.
